FBNQUEST: Nestoil, Neconde Deny Being Under Receivership

By Modupe Gbadeyanka

The duo of Nestoil and Neconde has denied being under any receivership as being claimed in a section of the media.

The two emphasised that such media reports were totally false, prejucial and contempt of court.

It was stressed that an inchoate receiver manager appointment without recognition by the court as in this case has no powers to seize its assets, including freezing of its accounts and its directors.

Nestoil and Neconde are in court with First Bank Trustees and FBNQuest Merchant.

They advised the plaintiffs to act lawful and await final determination of their suits for judicial recognition of the receivership, amongst other reliefs.