Old Mutual: Moyo can't be reinstated, company will be 'ultimate loser'


- fin24.com | 4 months ago

The legal team representing Old Mutual [JSE:OMU] has picked apart former CEO Peter Moyo's urgent application to be re-instated, arguing that it should be dismissed with costs by the Johannesburg High Court and that if Moyo returns to his position, the company will be the "ultimate loser".

 Friday was the second day of arguments in the high profile case between Moyo and the JSE-listed insurer. Judgement was reserved by Judge Brian Mashile, who said he hopes to to be ready to make a ruling in a week’s time, on July 26.

Advocate Hamilton Maenetje, for Old Mutual, on Friday responded to the application presented on Thursday by Moyo’s team of legal heavyweights, including Advocates Dali Mpofu and Tembeka Ngcukaitobi.

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