The Supreme Court has overturned a previous ruling by the Court of Appeal that had imposed an asset freeze on Nestoil Limited, Neconde Energy Limited, and two additional companies in connection with a disputed debt claim of $1.1 billion. In a unanimous decision reached by a five-member panel, the apex court determined that the appellate court had overstepped its jurisdiction in issuing the asset freeze. This ruling reinstates the operational capacity of the affected companies, allowing them to manage their assets without the constraints imposed by the earlier order. The decision marks a significant development in the ongoing legal dispute surrounding the alleged debt.
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