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

Freitag, Dezember 20th, 2019

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

Former Old Mutual CEO Peter Moyo has detailed the break down of Old Mutual chairperson Trevor to his relationship Manuel in court documents prior to the Southern Gauteng High Court, where he alleges that Manuel managed him with „open hostility“ and that it absolutely was an „understatement“ that „all hell broke loose“ because of this.

Manuel is detailed among the participants within the matter.

The straw“ that is“last states Moyo, had been their objection into the board about the „improper non-disclosure of a re re payment amounting to an incredible number of rand, that was compensated by Old Mutual in respect of Manuel’s appropriate costs for their much-publicised appropriate battle associated with the Guptas and their associates“.

Moyo has filed an application that is urgent the Southern Gauteng High Court looking for, among other items, become reinstated inside the place. He additionally wishes an interdict stopping the company from filling their old task. Moyo had been unexpectedly suspended from their place may 23, as a result of exactly exactly what the ongoing business described as a dysfunction in trust and self- self- confidence. He had been later sacked.

In their notice, Moyo desires their suspension system become announced „unlawful, and void“ – and is particularly seeking contractual damages against Old Mutual.

While Moyo’s dispute because of the insurer could be the re re payment of dividends to NMT Capital, a black-owned investment business which he highlights as a key factor in the matter that he co-founded, in papers before the court, it is his relationship with Manuel. Old Mutual lifetime Assurance business, a subsidiary of Old Mutual, can be an investor in NMT Capital. (mehr …)