Federal High Court in Lagos Adjourns $1bn Debt Suit Involving Nestoil

The Federal High Court in Lagos has postponed the hearing of a $1 billion debt suit involving Nestoil Limited, FBNQuest Merchant Bank Limited, and others to December 11. The case, which includes allegations of debt against parties like Glencore Energy UK Limited and First Trustees Limited, saw a joinder application being heard.

Justice Daniel Osiagor rescheduled the hearing after a late-filed counter affidavit by the plaintiff's application. The suit involves frozen assets of Nestoil and Neconde Energy Limited, with Dr.

Ernest Azudialu Obiejesi and Nnenna Obiejesi appointed as receivers. The court vacated an earlier Mareva injunction and ruled on various motions related to the case.