Another legal tussle is brewing for Old Mutual after a minority shareholder in one of its subsidiaries accused SA’s third-largest insurer by market value of prejudicial conduct in a cost recovery dispute that dates back to 2014.

The privately owned Business Doctor Consortium (BDC), based in the Isle of Man, is seeking relief from the high court in Cape Town after Old Mutual Finance allegedly refused to recover nearly R600m from Old Mutual Life Assurance Company SA (Omlacsa), the group’s main operating company...

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