Persistent Peter Moyo arrives for a third time to take office at Old Mutual

Peter Moyo has arrived at the Old Mutual building on Wednesday, for the third time and he attempts to take office as chief executive officer and again, Moyo and his team have been asked to exit the building.

Moyo’s camp states they are giving Old Mutual a chance to “correct its ways”

Moyo’s legal team states they will have to bring the back-up of a sheriff the next time they come to Old Mutual, to enforce the court order which states Moyo must be reinstated temporarily. In a video on Twitter from Heidi Giokos, an enca business reporter, Moyo’s legal team states:

“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

Peter Moyo’s legal team promises this won’t be their last time coming to Old Mutual

Old Mutual, however, states that their termination letter still stands and Moyo has been fired since 21 August, and not allowed into the building or to start with any work.

“In our view this is a further aggravation of the contempt that is already before court, we will certainly bring this issue to the attention of the court, but we are also thinking that the next time we come here we should bring a sheriff to enforce a court order. It is only the sheriff who is authorised to tell Old Mutual to open the doors for Mr Moyo, we are seriously considering that possibility. We are not doing this lightly because we believe in the rule of law and that court orders need to be implemented.”

Peter Moyo’s legal team

The company fired its boss for a second time in August

Old Mutual effectively fired Moyo for the second time in August and tried to overturn a court ruling. However, the boss was initially fired in June from being suspended in May, as Old Mutual stated they can’t trust him and confidence has broken down subsequently from how Moyo managed a conflict of interest, which involved his investments in the NMT group of companies.