Moyo loses bid to sue OM

31 Jul, 2022 - 00:07 0 Views
Moyo loses bid to sue OM

The Sunday Mail

Peter Moyo’s last bid to claim R250 million damages from Old Mutual has failed, potentially closing all doors for the former CEO to continue fighting the insurer.

The Johannesburg High Court dismissed Mr Moyo’s application to appeal the January 2022 ruling, which dismissed his R250 million damages case.

After that January judgment, the court also dismissed Moyo’s attempt to declare Old Mutual board members delinquent and in contempt of court for blocking him from returning as a CEO in July 2019. Mr Moyo applied to appeal the January 2020 judgment.

But after hearing both sides’ arguments on Thursday, Judge Gregory Charles Wright couldn’t see another judge arriving at a different conclusion and dismissed the application with costs. Old Mutual said during Thursday’s hearing that Mr Moyo abandoned his claim for R20 million in damages for alleged violations to his dignity.

But he still wanted R230 million for damages arising from the termination of his employment as the CEO of Old Mutual before the end of his contract.

The sum of R230 million included lost earnings, bonuses, share incentives and related sources of lost remuneration. −  Fin24

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