News, What's Trending

Why we took over Ben Bruce’s companies – AMCON

The Asset Management Corporation of Nigeria (AMCON) has taken over the assets of three companies belonging to the common sense Senator, Ben Murray-Bruce and his brothers.

An official of the Corporation confirmed to today (June 23, 2016) via a telephone chat that the politicians’ company assets have been seized for his failure to settle a loan of over N10 billion owed Union Bank and acquired by AMCON.

The companies had between 2005 and 2007 borrowed various sums of money from Union Bank but as they repeatedly defaulted in paying back, AMCON purchased the loan in 2011 to save the bank from collapsing.

AMCON has now seized the assets belonging to the three companies used in securing the loan – Silverbird Productions Limited, Silverbird Showtime Limited and Silverbird Galleria Limited.

The properties include those at 133, Ahmadu Bello Way, Victoria Island, Lagos, Plot No 1161 (Silverbird Galleria), the plaza at Central Area Cadastral Zone AOO, Abuja, and the edifice located at Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.

The takeover follows the June 17 interim orders granted by Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, in Suit No. FHC/L/CS/790/16 – Asset Management Corporation of Nigeria & 3 Ors. v. Ben Murray Bruce & 4 Ors.

The order allows the Receiver/Manager to take possession of the said properties.

Named as defendants in the suits are Senator Murray-Bruce, Guy Murray-Bruce, Michael Murray-Bruce, Roy Murray-Bruce and Jonathan Murray-Bruce, who is the senator’s first son.

  • Daniel Fayemi for

Related Stories:



About the Author