Peter Moyo suffers SCA defeat in bid to claim R250m from Old Mutual

The Supreme Court of Appeal (SCA) has dismissed an application by former Old Mutual CEO Peter Moyo to allow him to appeal a ruling against him by the South Gauteng High Court in Johannesburg.

Moyo has filed various lawsuits against Old Mutual after he was fired in June 2019, but has not had any success in the country’s higher courts.

In January this year, the high court dismissed Moyo’s bid to sue the insurer for R250 million in contractual damages. In July, he also lost an application for leave to appeal the verdict in the same court.

Peter Moyo

Earlier this year, he again lost an application in the high court to have Old Mutual’s board members declared delinquent.

The SCA’s judgment dated 14 November shows that Moyo lodged an application to allow him to appeal the high court ruling in August.

On 10 November, the SCA ordered that his application be dismissed with costs.

“[It] is dismissed on the grounds that there is no reasonable prospect of success in an appeal and there is no other compelling reason why an appeal should be heard,” wrote the court registrar in the order.

With the SCA not prepared to hear his case, this might finally be the end of this longstanding legal battle which began in May 2019, unless Moyo’s legal team can find a constitutional argument to take the matter to the apex court in Braamfontein. – news24.com