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'
Legal journo Karyn Maughan gives an update on the application by civil organisation, the Fair and Equitable Society.Read More
National Santaco spokesperson Thabiso Molelekwa insists it never supported the 100% passenger occupancy of minibus taxis.Read More
Transport Minister Fikile Mbalula has outlined changes to the regulations governing public transportation during lockdown.Read More
Public Servants Association says government is being opportunistic using Covid-19 crisis to cite reasons for no increase.Read More
AmaBhungane investigative journalist Micah Reddy reports that police said their orders 'came from the top'.Read More
Despite a lack of clarity for people living in housing estates and complexes regarding the use of communal spaces, SAPS is clear.Read More
On Monday night Cyril Ramaphosa said we entering a new phase of the fight against the pandemic with mass testing rolling out.Read More
Zulu says she was heartened to see elderly recipients helping ensure social distancing and not just leaving it up to government.Read More
JP Smith says Capetonians were largely cooperative on Day One of lockdown, but there were pockets of 'massive' non-compliance.Read More
Johnson says over the last 24 hours I have developed mild symptoms and is self-isolating.Read More