Axed Old Mutual CEO Peter Moyo has been barred by the insurer from returning to duty on Monday morning, despite a court order upholding his reinstatement.
The High Court in Johannesburg ruled for the second time ton Friday hat Moyo should be reinstated after he was fired by the insurer.
Moyo and Old Mutual are entangled in a legal dispute over his alleged conflict of interest regarding his company, NMT Capital.
Moyo’s lawyer, Eric Mabuza, says Old Mutual lawyers informed them that his client could not resume his duties.
Mabuza was told by the Old Mutual lawyers that the insurer plans institute further legal action.
The legal representative says his client will challenge any future court action by the insurer.
We specifically asked them to produce a copy of any resolution from Old Mutual which authorised them to behave in that manner.— Eric Mabuza, Peter Moyo's lawyer
When we got there we were pulled [into] a boardroom by Old Mutual lawyers, there was no other Old Mutual representatives.— Eric Mabuza, Peter Moyo's lawyer
Old Mutual is brazenly disregarding a court order.— Eric Mabuza, Peter Moyo's lawyer
Listen to the discussion with Clement Manyathela: