JOHANNESBURG – Financial services company Old Mutual on Monday again barred its fired chief executive Peter Moyo from returning to work despite a high court ruling last week which rejected its bid to keep him out pending conclusion of its legal battle to oust him once and for all.
Moyo was initially fired in June, having been suspended in May over what Old Mutual called a material breakdown in trust and confidence due to how he had managed a conflict of interest in relation to his investments in the NMT group of companies. "It must be noted the validity of this letter was not before the Gauteng local division of the high court last week Friday when the court heard an application brought by Mr Moyo … for leave to introduce further evidence and for further declaratory relief," it said in a statement.