The Supreme Court has ruled in favour of Nestoil Limited and Neconde Energy Limited in a major dispute over legal representation and conflict of interest.
In its judgment delivered on Friday, the apex court restored the companies’ right to appoint their own counsel, Chief Wole Olanipekun (SAN) and Dr. Muiz Banire (SAN) in the ongoing $2 billion debt case.The court set aside the Court of Appeal’s decision that had disqualified the companies’ chosen lawyers.
It held that, since the validity of the receivership is still being challenged, the Board of Directors retains the power to appoint legal representatives.
Justice Idris, who read the lead judgment, emphasised that allowing the Receiver/Manager’s counsel to also represent the companies would create a clear conflict of interest.
The ruling strengthens the right of litigants to choose their own lawyers and is seen as a significant legal victory for Nestoil, Neconde, and their promoters in the high-stakes multibillion-dollar litigation.
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