Court Vacates Asset-Freezing Order Against Nestoil in $1 Billion Debt Claim Case
Nestoil Limited and its affiliates secured a legal victory as the Federal High Court in Lagos vacated a mareva injunction freezing the company's assets over a $1 billion debt claim. Justice Daniel Osiagor transferred the case to another judge, Justice Dehind Dipeolu, who granted a far-reaching mareva injunction restraining Nestoil and its affiliates.
The order empowered First Trustees Limited and FBNQuest Merchant Bank Limited to act as consortium creditor banks to possess Nestoil's assets in receivership. The asset freeze was lifted following the court ruling.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Court Lifts $1bn Injunction Against Nestoil in Debt Recovery Case
Nigerian Court Freezes Nestoil and Neconde Assets Over $1bn Debt
Court Orders Lagos Police to Withdraw Officers from Nestoil Premises Amid Debt Dispute
Banks Place Nestoil Under Receivership Over $1bn Debt
Nestoil Regains Control of Lagos HQ After Legal Battle
Nigerian Banks Take Over Nestoil in $1 Billion Debt Dispute
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
