FORMER Old Mutual CEO Peter Moyo has lost his most recent court case against the company.
Moyo wanted to have the insurer’s board members declared delinquent and in contempt of court for blocking him from returning as a CEO in July 2019.
This was Moyo’s last hope since he has already lost a bid to get R250 million from the insurer for contractual damages in January this year.
But a full bench of the Johannesburg High Court dismissed both Moyo’s contempt of court and delinquency applications with costs.
“Old Mutual is pleased to put this matter behind us after three years of contentious litigation and to focus on growing the business well into the future, with good governance at all times its shining light,” said Old Mutual in a statement. Fin24.com