Moyo judge recuses himself
Old Mutual says the judge who ordered the insurer to reinstate axed CEO Peter Moyo has decided to recuse himself, after a hearing on Friday in the high court in Mpumalanga. The company said in a statement on Friday that the decision came after Moyo’s legal team introduced “allegations that Old Mutual was scandalising the court”, putting judge Brian Mashile in an “untenable position”.
Old Mutual says the judge who ordered the insurer to reinstate axed CEO Peter Moyo has decided to recuse himself, after a hearing on Friday in the high court in Mpumalanga.
The company said on Friday that the decision came after Moyo’s legal team introduced “allegations that Old Mutual was scandalising the court”, putting judge Brian Mashile in an “untenable position”.
Old Mutual spokesperson Tabby Tsengiwe said Moyo’s legal team had named Mashile in their contempt of court affidavit and personally involved him in the case.
The company said that despite asking Moyo’s team to remove this reference to the judge from their affidavit, they refused to do so, leaving the insurer with no choice but to apply for the judge’s recusal.
‘DIFFICULT DECISION’
The insurer said the decision to proceed with a recusal application was a “difficult one and we welcome and respect judge Mashile’s decision to recuse himself”.
Moyo’s lawyer, Eric Mabuza, described Mashile’s recusal as “an own goal” for Old Mutual, saying it “removes any barrier against this contempt application being heard and decided”.
Mabuza said Moyo’s legal team did not attend Friday’s court hearing for Mashile’s recusal, which effectively meant it was unopposed.
“We are not concerned about which judge hears the contempt application,” he said.
“We believe any judge hearing this matter will find that the conduct of Old Mutual and its board chair, Trevor Manuel, displays blatant contempt of court,” said Mabuza.
Old Mutual has been embroiled in a bitter feud with its former CEO since May, when it suspended and later fired him over alleged conflicts of interest related to NMT Capital, of which Moyo is one of the founders and Old Mutual was a 20% shareholder.
There are several parts to the saga involving Old Mutual and its former CEO.
One involves Moyo suing Old Mutual for R250m in damages.
Another is the insurer’s appeal against Mashile’s July order to reinstate the axed CEO, which was heard before a full bench of three judges on Wednesday and Thursday in Johannesburg.
Judgment in the appeal case has been reserved.
Since the news of Moyo’s suspension broke on May 24, Old Mutual shares have slumped nearly 13%, while the JSE all share index has gained about 2% over the same period.
MOYO’S LAWYER, ERIC MABUZA, DESCRIBED MASHILE’S RECUSAL AS ‘AN OWN GOAL’ FOR OLD MUTUAL
OLD MUTUAL HAS BEEN EMBROILED IN A BITTER FEUD WITH ITS FORMER CEO SINCE MAY, WHEN IT SUSPENDED AND LATER FIRED HIM