Latest Old Mutual move 'beyond ridiculous, textbook case of contempt of court'
Old Mutual has fired its CEO Peter Moyo again, despite an awaiting ruling by the High Court on its leave to appeal the judgment that said his dismissal was unlawful.
He was fired for what Old Mutual had said was a conflict of interest regarding his company NNMT Capital.
Moyo's lawyer, Eric Mabuza expresses his unhappiness to Clement Manyathela on the Xolani Gwala Show.
The only way I can describe this move is beyond ridiculous and corporate madness, a textbook case of contempt of court.Eric Mabuza, lawyer representing Peter Moyo
He says the move shows a complete lack of respect for the justice system.
It goes beyond anything that I have seen in my life. It just disrespects the court processes and everything we cherish in this country - the rule of law. Clearly somebody must intervene to save Old Mutual from itself and its directors.Eric Mabuza, lawyer representing Peter Moyo
It is just wrong.Eric Mabuza, lawyer representing Peter Moyo
Mabuza says the dismissal will only make things worse for the insurer.
You will remember that yesterday the Business Day reported that since the suspension of Mr Moyo the share price has lost almost R 17 billion. Certainly, this new termination is just going to make the situation worse.Eric Mabuza, lawyer representing Peter Moyo
He says a consultation has been scheduled for Thursday to map out the way forward.
He is not imposing himself there. The court says he must go back to work. The court reinstated him.Eric Mabuza, lawyer representing Peter Moyo
Click on the link below to hear the full conversation...
This article first appeared on 702 : Latest Old Mutual move 'beyond ridiculous, textbook case of contempt of court'
Kagiso Rabada can't be faulted for what he did in the SA vs England Test series, says sports journo Stuart Hess.Read More
The DA's Helen Zille confirms that she's been engaged in discussions with UDM leader Bantu Holomisa after a recent trip to Germany.Read More
We’re starting to see capitulation [by companies giving up on the economy recovering], says Nedbank Chief Economist Dennis Dykes.Read More
After Deputy Chief Justice Raymond Zondo has been briefed, he will determine the dates when Zuma is called to testify.Read More
Four senior police officers at the graveside marched into each other seemingly not knowing left from right.Read More
Founder of the Facebook forum and non-profit company Jarett Petzer explains what the core team does to justify being paid salaries.Read More
Longsuffering taxpayers may have a reason to be furious with UK-based Deloitte, one of the largest accounting firms in the world.Read More
W Cape schools are back on Wednesday and questions of school safety rear their head. Education specialists discuss.Read More
Zuma's legal team argued that he will be undergoing intense medical treatment overseas and won’t be available before March.Read More
New regulations will provide a means to deal with a witness being deliberately obstructive and refusing to cooperate.Read More