Old Mutual Set To File Responding Papers In Peter Moyo Case

Former Old Mutual CEO Peter Moyo.
Former Old Mutual CEO Peter Moyo.

Old Mutual is set to file papers on Tuesday in response to action taken by axed CEO Peter Moyo.

Moyo was fired earlier this year over what the company said was a conflict of interest.

He turned to the High Court in Johannesburg, which ruled that the company temporarily reinstate him.

The Public Investment Corporation and some shareholders have called on Old Mutual to sort out its differences with Moyo while other shareholders said the company should fight on.

In the meantime, Old Mutual is returning to court.

Spokesperson Tabby Tsengiwe said: “On 23 September, the judge allowed Moyo to submit the second letter of termination as additional evidence in the contempt of court charge that has been brought by him. And we then had a period of 10 days within which to file out responding papers.”

Moyo also launched a R250 million damages claim against Old Mutual; a claim the company said it would fight.

EWN