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Ex-Old Mutual CEO vs Trevor Manuel: Explosive court papers expose just just how ‘all hell broke loose’

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Ex-Old Mutual CEO vs Trevor Manuel: Explosive court papers expose just just how ‘all hell broke loose’

Former Old Mutual CEO Peter Moyo has detailed the breakdown of Old Mutual chairperson Trevor to his relationship Manuel in court documents prior to the Southern Gauteng tall Court, where he alleges that Manuel managed him with “open hostility” and therefore it had been an “understatement” that “all hell broke loose” because of this.

Manuel is detailed among the respondents into the matter.

The “last straw”, says Moyo, had been their objection into the board about the “improper non-disclosure of a re re payment amounting to scores of rand, that has been paid by Old Mutual in respect of Manuel’s appropriate costs for their much-publicised appropriate battle regarding the Guptas and their associates”.

Moyo has filed an application that is urgent the Southern Gauteng High Court looking for, on top of other things, to be reinstated inside the place. He additionally desires an interdict stopping the company from filling their old work. Moyo ended up being unexpectedly suspended from their place may 23, as a result of just exactly what the ongoing business called a dysfunction in trust and self- self- confidence. He had been later sacked.

Inside the notice, Moyo wishes his suspension system to be announced “unlawful, and void” – and is particularly seeking contractual damages against Old Mutual.

While Moyo’s dispute aided by the insurer could be the re re payment of dividends to NMT Capital, a black-owned investment company which he co-founded, in documents prior to the court, it really is his relationship with Manuel which he highlights as a vital element in the situation. Old Mutual lifestyle Assurance Company, a subsidiary of Old Mutual, is an investor in NMT Capital. Read More

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