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AS IT HAPPENED: Judgment reserved in Old Mutual-Moyo battle

Peter Moyo at Old Mutual's head office in Sandton on July 31, 2019. (Tehillah Niselow)
Peter Moyo at Old Mutual's head office in Sandton on July 31, 2019. (Tehillah Niselow)
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16 Aug 2019

Judgement reserved on latest Old Mutual, Moyo battle

The Joburg High Court on Friday heard from the legal teams of Peter Moyo, Old Mutual and 14 of its board directors.

The parties are embroiled in a legal battle over Moyo's reinstatement as CEO at the financial services provider. Old Mutual in May suspended Moyo and dismissed him in June citing a conflict of interest and an alleged breakdown of trust.

Moyo however challenged the dismissal in court. On July 30 Justice Brian Mashile ruled in his favour. Part B of Moyo's application which is still to be heard seeks the courts to declare Old Mutual's as delinquent for dismissing him without following due process, he is also seeking a damages claim for reputational harm he was caused.

Despite Mashile's ruling Old Mutual has since barred him from returning to work and filed an appeal. Moyo's legal team has hit back and said Mashile's interim order cannot be suspended on the back of Old Mutual's notice to appeal.

Old Mutual then filed an urgent application for a declaratory order that Mashile's ruling is final or suspend the implementation of his directives citing "exceptional circumstances".

During Friday's hearing Moyo's lawyer – Advocate Dali Mpofu presented arguments that Old Mutual has acted in contempt of court by refusing his reinstatement in the interim.

While Old Mutual lawyer Advocate Vincent Maleka put forward that Mashile's ruling be declared final Granting that order means that the directives of the first part of Moyo's application are suspended.

Judgement has been reserved and Mashile will make a decision within the next two weeks.

16 Aug 2019

Mpofu says that Mashile must decide if we are here for Old Mutual law or South African law.

16 Aug 2019

Maleka asks Mashile to grant leave to appeal because his judgment has the effect of finality.

Granting that order means that the directives of Part A of Moyo's application are suspended.

16 Aug 2019

The harm concerned is not irreparable, Maleka reiterates.

16 Aug 2019

The prejudice to the image, reputation and integrity of Moyo is not irreparable.

16 Aug 2019

Maleka says Moyo has accepted six months payment without objections.

16 Aug 2019

Adv Maleka now up to continue replies for Old Mutual.

16 Aug 2019

Freund says it is "ridiculous" for Moyo to have a workable relationship with Old Mutual, following the allegations he made against directors.

16 Aug 2019

Freund up to do replies on behalf of Old Mutual.

16 Aug 2019

Mpofu hits back, "The abuse of Mr Moyo and this court has to stop at some point."

16 Aug 2019

Adv Dickerson now up, he represents the 14 directors at OM.

16 Aug 2019

Mpofu says, "We can't behave as if the judgment is not there, as if no court has pronounced on this."

16 Aug 2019

Mpofu quotes an interview with OM director Paul Baloyi and eNCA, Baloyi said that OM does not want Moyo back as CEO and will be searching for a new one.

This after Mashile's ruling to reinstate Moyo.


STORY HERE

16 Aug 2019

Mpofu says that Mashile could have come with the best ruling seen in the history of mankind but OM appeared to already have a plan to appeal.

16 Aug 2019

Mpofu says OM has regurgitated arguments that failed in court to the media. Despite the court's ruling they have barred Moyo's return. OM is in contempt of the court's ruling.

16 Aug 2019

The hearing resumes.

16 Aug 2019

Mpofu questions Maleka's statements that there is no point in Moyo contesting to be reinstated to earn emoluments because he was already paid.

"Moyo has been locked out physically out of his office, he is sitting at home when he has a judgment in his favour reinstating him from Justice Mashile.

"Out of the kindness of his heart, he could be going to OM every morning saying he wants to work, but because he respects the legal process he is sitting at home twiddling his thumbs."

16 Aug 2019

Mpofu reiterates previous arguments that Mashile's July 30 ruling is not final.

The issue of reinstatement will be addressed in the Part B court. 

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