NEWS Beep: Supreme Court Rules against Nestoil Limited and its affiliate, Neconde Energy.

Supreme court has just nullify appeal court order, freezing Nestoil Energy Limited, Neconde Limited assets including two other entities over an alleged $1.1 billion indebtedness to FBNQuest Merchant Bank Limited and First Trustees Limited.

This was according to a judgment delivered on Monday, a five-member panel of the apex court held that the appellate court exceeded its powers by granting an ex parte application against the companies.

….stay tuned for more!