The Gauteng Local Division of the High Court on Monday dismissed the R20 million damages claim brought by Peter Moyo against his former employer Old Mutual.
In his judgment, Justice Gregory Charles Wright found that Moyo – a former Old Mutual CEO – had failed to produce any evidence of wrongdoing on the part of the insurance, investment, and corporate solutions firm.
Old mutual terminated Moyo’s employment in June 2019.
In the latest court proceedings that lasted two weeks, Moyo argued that the termination of his employment was unlawful.
Initially, Moyo claimed reinstatement and damages in the amount of R230 million.
He claimed damages in the amount of R20 million on the basis that statements made on behalf of Old Mutual about the termination of his employment “insulted him and violated his dignity”.
During the hearing, Moyo abandoned his claim for reinstatement but persisted with his damages claims.
The judgment handed down Monday morning said the arguments advanced by Moyo for damages could not lead to a finding in his favour.
The court granted Old Mutual and its non-executive directors (who were cited as defendants) absolution from the instance.
This means that there is no need for Old Mutual to call any witnesses to testify in opposition to Moyo’s claims, which have been dismissed based on his version.
Specifically, the court found that, before the termination of Moyo’s contract, he had ample opportunity to put his side of the story.
The court found that no damages flowed from the suspension of his employment.
On termination, it found that Old Mutual correctly applied clause 24.1.1 of the employment contract, which allowed either Old Mutual or Moyo to terminate the contract on six months’ notice.
The court said it agreed with and was bound by similar findings made by a Full Bench of the High Court in January 2020, which also found Old Mutual had acted lawfully in terminating Moyo’s contract.
Justice Wright found no evidence to support Moyo’s claim for loss of dignity.
The court found instead that in the public spat that followed the termination of his employment, it was Moyo who was “direct, forceful and combative”.
By contrast, in an interview with CNBC, Old Mutual was found to have spoken: “lawfully, reasonably and fairly”.
Following Moyo’s initial interim reinstatement application in July 2019, Justice Wright’s ruling adds to many other court judgments that found Old Mutual acted lawfully in terminating Moyo’s contract.
However, judgment in Moyo’s consolidated application to have the Old Mutual non-executive directors declared delinquent and to have them declared in contempt of court remains pending.
