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Old Mutual heading to court after barring Moyo from returning to work | IOL Business Report

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Old Mutual heading to court after barring Moyo from returning to work busrep

JOHANNESBURG – Old Mutual said on Monday that it would be filing appropriate appeal papers in the next few days after it barred sacked chief executive Peter Moyo from returning to work, despite the South Gauteng High Court ordering the group to do so last week.“Old Mutual will be filing the appropriate appeal papers in the next few days and will let you know when we have been granted a date for the hearing and which court will hear it.

Moyo was unceremoniously axed in June when the board cited a material breakdown of trust and confidence in him. He was placed on suspension a month earlier amid alleged conflict of interest in the NMT Group, an investment company he co-founded. On Friday, Judge Brian Mashile dismissed Old Mutual’s application for a declaratory order seeking to prevent Moyo from returning to work. It said the court heard an application brought by Moyo in terms of Rule 6 for leave to introduce further evidence and for further declaratory relief.

 

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Old Mutual bars fired CEO Moyo from returning to work despite court ruling | IOL Business ReportOld Mutual again barred its fired CEO Peter Moyo from returning to work despite a high court ruling last week which rejected its bid to keep him out.
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