Supreme Court sets aside order freezing Nestoil, Neconde’s assets

The Supreme Court has acceptable speech an bid of the Court of Appeal freezing the assets of Neconde Energy Limited, Nestoil Limited and 2 others, implicit an alleged $1.1 cardinal indebtedness to FBNQuest Merchant Bank Limited and First Trustees Limited.

A five-member sheet of the apex court, successful a judgement, on Monday, held that the three-member sheet of the appellate tribunal went beyond their powers successful granting an ex parte exertion against the appellants.

Justice Stephen Jonah  Adah successful the pb judgment, berated the appellate tribunal for assuming jurisdiction and issuing an injunction against Neconde and Nestoil, erstwhile the substance was not decently earlier the court.

Besides, the Supreme Court accused the appellate co...