Old Mutual files papers responding to Peter Moyo’s court application

Old Mutual is set to file documents on Tuesday, at the South Gauteng High Court, responding to the contempt of court application by Peter Moyo, who has been fired as a chief executive officer by the insurer.

According to IOL, Old Mutual spokesperson Tabby Tsengiwe confirmed on Monday that the company would file papers and Moyo’s lawyer Eric Mabuza, said they are awaiting the insurer to file its response to Moyo’s contempt of court application, and want to hear how Old Mutual “will justify its conduct”.

“Old Mutual was provided with 10 days within which to respond and will, accordingly, submit this response tomorrow, adhering to the timelines provided by the judge in this matter.”

Old Mutual spokesperson,Tabby Tsengiwe

Moyo is suing Old Mutual for R250 million or his reinstatement

Last week, Moyo sued Old Mutual for R250 million or his reinstatement, after the insurer refused to let him commence his duties as a chief executive officer, despite the South Gauteng High Court ruling that he should be reinstated.

Moyo further explained that the current debacle has ruined his reputation and chances of finding employment in corporate South Africa are slim to none. Old Mutual has confirmed that Moyo hit them with summons seeking damages and they promised to safeguard “any claim vigorously”.

Peter Moyo: “I am entitled to claim in accordance with my contract”

The insurer stated that Moyo’s dismissal was correct and that the amount they are being sued for is in addition to R36 million Moyo received for his employment, and the R4 million he gained serving a six months notice period.

As Moyo is suing Old Mutual, the sole aim is to get reinstated and serve full time in his position as CEO:

“If they don’t give me my job back, I am entitled to claim in accordance with my contract.”

Peter Moyo

Moyo arrived for a third time to take office at Old Mutual

The company is divided as some shareholders have requested Old Mutual to sort out “differences” with Moyo, while others are prompting the insurer to pursue the battle. Moyo recently went to Old Mutual to resume his position, and he was blocked from entering:

“We came to give Old Mutual an opportunity to mitigate the contempt of court, if you remember this is the third time we are coming here, it’s to give Old Mutual an opportunity to correct its ways. Once again we are met with the same attitude, that we are not allowed to be here, but we are very patient with this thing because in a month’s time, the issue will be resolved once and for all.”

Peter Moyo’s legal team