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Old Mutual wins appeal against Peter Moyo reinstatement

Judgment was handed down on Tuesday morning and the application was dismissed with costs.

FILE: Peter Moyo in the Johannesburg High Court on 18 July 2019. Picture: Nthakoana Ngatane/EWN

JOHANNESBURG - The High Court in Johannesburg has upheld Old Mutual’s appeal against the temporary reinstatement of its sacked chief executive Peter Moyo.

Judgment was handed down on Tuesday morning and the application was dismissed with costs.

Old Mutual has been locked in a dispute with Moyo since it suspended him in May last year in relation to an alleged conflict of interest.

Old Mutual can now appoint a new chief executive.

Moyo’s lawyer Eric Mabuza said they’d study the judgment.

“We’re disappointed with the loss, but it’s not the end of the road. I will soon be writing to Old Mutual to tell them we’ll petition for leave to appeal from the Supreme Court of Appeal.”