Old Mutual battle heading to SCA
Sacked Old Mutual CEO Peter Moyo will be appealing the high court’s ruling in favour of the insurer at the Supreme Court of Appeal in Bloemfontein.
The ruling was handed down by the High Court in Johannesburg on Tuesday morning
The court granted Old Mutual the right to appeal a judgment made by Judge Brian Mashile in July 2019, accusing the insurance broker of unlawful dismissal and ordering Moyo’s immediate reinstatement as CEO.
Moyo was initially dismissed by Old Mutual due to a conflict of interest related to NMT Capital that he allegedly failed to disclose to the board.
READ: Old Mutual ‘to search for new CEO’
However, Moyo’s lawyer Eric Mabuza has described the latest ruling as a minor setback in their ongoing legal spat with the company.
“We have received instruction from Mr Moyo to appeal the judgement and we have told Old Mutual that we are appealing the judgment.
“The judgment that is currently prevailing is a judgment of Justice Mashile, because we have already informed Old Mutual that we are appealing, so they will be getting our court papers very soon.”
Mabuza says it would be premature for the insurance broker to start the search for a new CEO.
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