Moyo seeks permanent reinstatement or R250m from Old Mutual
Old Mutual CEO Peter Moyo has served the company with summons seeking damages of R250 million should he not be reinstated.
This is the latest twist in the long-running legal spat between the two over Moyo’s dismissal as CEO.
Moyo was first dismissed over his alleged failure to disclose a conflict of interest related to NMT Capital.
In July, both parties headed to court in Moyo's bid to be reinstated as CEO where the court found his dismissal unlawful and Old Mutual was ordered to reinstate him.
Since, the insurance broker has yet to allow its former CEO to enter the premises.
READ: Moyo believes Old Mutual is in contempt of court
Moyo’s lawyer Eric Mabuza says they have provided Old Mutual with two options.
“He issued summons to Old Mutual last Friday. The primary relief that he seeks is permanent reinstatement or to return to his job on a permanent basis…. If that is not possible he wants contractual damages of about R250 million.”