Australian receivers for Nauru-owned properties say the Nauruan Government must resolve political splits before it can have a say in the receivership process.
Receivers Prentice Parberry Barilla also say politicians are damaging the island republic's interests by discussing possible refinancing deals.
Amid ongoing attempts by Nauru to stave off bankruptcy, the president, Rene Harris, is said to have signed an agreement with Asian property group HCW.
Nauru's Economic Development Minister, Remy Namaduk, also says the Government has approved a plan by an American merchant bank.
But co-receiver Steve Parberry says his firm is both in charge of the receivership process and wary of any such proposals, and none have been agreed to.
"At the moment the Nauruan Government basically don't have a role at this point in the sense that control of these assets has passed out of the control of the directors of the entities that had them before and now they're in my control. And I'm in effect a custodian of those assets for the benefit first of all to the secured creditor and then I would have to account back to those entities at some point in time."
Steve Parberry says the Nauruan Government must sort out political divisions before it can play a role in the receivership process.