Old Mutual’s legal battle rages on, wipes out about 20% of market cap
JOHANNESBURG – The South Gauteng High Court has today reserved judgement in the case in which Old Mutual is challenging a previous interim court order that reinstated its former chief executive Peter Moyo.
Old Mutual, South Africa’s oldest insurance company, approached the court to appeal Mashile’s judgement. Closing arguments in the two-day appeal hearing were finalised earlier today.
Speaking on the sidelines of the hearing Moyo said the case was not appeal-able, adding that he felt that the hearing went well.
Source: iol.co.za