Old Mutual has scored another victory against former CEO Peter Moyo as the High Court in Johannesburg has thrown out his demand for R250-million in damages and claim that he was wrongfully fired from his top job nearly three years ago.
Moyo has already told the high court that he doesn’t want a protracted fight with Old Mutual because his legal bills were piling up. To speed up his case against Old Mutual, Moyo abandoned his demand for reinstatement as the insurer’s CEO but demanded contractual and reputational damages from Old Mutual amounting to R250-million.
Judge Wright found that Old Mutual’s decision to first suspend Moyo on 23 May 2019 and then fire him on 18 June 2019 was warranted because he breached the insurer’s agreement with NMT Capital about dividend payments. As a preference shareholder, Old Mutual was first in line for dividend payments before other shareholders.
He must now use the race card
And he is from Zimbabwe
Good - he tried to stuff up OM !
Is it not this same under qualified Manuel who devalued the Rand by 62%? Same guy who attacked the judiciary with deafening silence by the media and house niggers? Same questionable judiciary handed him victory - amazing country. SA is in trouble indeed