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An embattled Nestoil, Neconde and her owners are mobilizing $25million to pay Wole Olanipekun, Bode Olanipekun, Muiz Banire and Ojukwu Chikaosula so they can obtain a favorable judgement in favor of the troubled oil firm when the case involving their unpaid $1.01billion debt gets to the Supreme Court, according to sources close to the troubled oil firm.
An Appeal court had few days ago restrained Nestoil Limited, Neconde Energy Limited from stopping a receiver manager from liquidating their assets over their debts of about $1.01billion owed FBNQuest Merchant Bank and First Trustees Limited.
After the major legal battle defeat over the unpaid debts of about $1.01billion, Nestoil is allegedly mobilizing a war chest of about $25million to head to the Supreme Court to stop the liquidation of the troubled oil firm.
Nestoil owes: Access Bank, Afrexim Bank
Ecobank, First Bank, FCMB, Union Bank, UBA
and Zenith Bank. Neconde owes: Access Bank, Afrexim Bank, African Finance Corporation(AFC), Fidelity Bank, First Bank, Mauritius Commercial Bank, Zenith Bank, and Glencore UK
Insiders hinted that the decision of the Appeal court shook the foundation of Nestoil and Neconde and the owners are bent on fighting backing using any means to save the companies.