Old Mutual’s hard-hitting response to Peter Moyo’s claim that he should be temporarily reinstated is littered with reputation-destroying descriptions of its former CEO and his legal action, employing terms such as bizarre, nonsensical, ludicrous and entirely fanciful.

But potentially greater damage is contained in the details of how NMT Capital, a company co-founded by Moyo, was managed, and how it relied upon the presumed goodwill of Old Mutual to survive...

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