Today's Labour News

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OldMutualNews24 reports that Old Mutual and the insurer’s reinstated CEO Peter Moyo will hear the outcome of their increasingly acrimonious legal battle in approximately two weeks.  

Judge Brian Mashile reserved his ruling in the Gauteng High Court in Johannesburg on Friday, following lengthy arguments from both sides.  Moyo was suspended in May and axed in June, with the company citing a breakdown in trust and a conflict of interest related to NMT Capital, an investment firm Moyo co-founded.  Moyo successfully challenged his dismissal in court in late July.  However, he was barred from work the day after his court victory because the company applied for a declaratory order to advise whether the ruling reinstating Moyo was a final or interim order and whether it could be suspended with notice to appeal.  Old Mutual furthermore argued for leave to appeal Judge Mashile’s decision.  But, Moyo’s advocate argued that all 14 directors should be found in contempt of court for failing to allow Moyo to report for duty.  Speaking on Friday, Moyo and his attorney said that, out of respect for court processes, he had not tried to report for duty since 31 July and would wait until the ruling in around two weeks.

  • Read the full original of the above report by Tehillah Niselow at Fin24


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