Nestoil, receiver spar over the Supreme Court’s ruling
Nestoil Limited and receiver Abubakar Sulu-Gambari are in a dispute following a Supreme Court ruling regarding an alleged debt default. Nestoil claims that Sulu-Gambari's actions are misleading and lack judicial support after the court voided a previous ruling in his favor. The Supreme Court's decision annulled an order that froze the assets of both Nestoil and Neconde Energy.
- ▪Nestoil Limited is engaged in a verbal clash with receiver Abubakar Sulu-Gambari over an alleged debt default.
- ▪The Supreme Court ruled that the receiver's authority to act is under scrutiny due to a case filed at the Federal High Court.
- ▪The Supreme Court annulled an order from the Court of Appeal that froze the assets of Nestoil and Neconde Energy.
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Add us on Google Nestoil Limited has engaged in a verbal clash with Abubakar Sulu-Gambari, the receiver/manager appointed over the company and Neconde Energy in respect of an alleged debt default. The verbal exchange comes against the backdrop of a Supreme Court ruling delivered on Monday. The oil firm, in a rebuttal to a recent press statement issued by the receiver/manager, noted that although Mr Sulu-Gambari admitted that the court voided an earlier ruling of the Court of Appeal which granted an injunctive relief in his favour, he directed the public to proceed in a manner showing that the apex court’s decision had no effect on his exercise of power as receiver/manager.
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