Unpaid Debt: AMCON Set To Takeover Senator Ben Bruce Silverbird Companies (Photos)

 According to an exclusive report on Premium Times, the Asset Management Corporation of Nigeria (AMCON) on Thursday morning, took over the assets of three companies belonging to outspoken Bayelsa State Senator, Ben Murray-Bruce.
The companies affected by the takeover are;

1. Silverbird Galleria Limited
2. Silverbird Promotions Limited, and
3. Silverbird Showtime Limited.
It was gathered that AMCON had, by notice of appointment dated April 18, appointed Muiz Banire as Receiver/Manager over the sprawling assets of the three companies located at;
1. 133 Ahmadu Bello Way, Victoria Island, Lagos
2. Plot No 1161 (Silverbird Galleria)
3. Central Area Cadastral Zone AOO, Abuja
4. Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.
We had earlier reported here that the AMCON is set to seize the properties, barring any last-minute change of plans.
The takeover followed the interim orders granted by Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, on June 17 which allowed the Receiver/Manager to take possession of the said properties.
The properties were seen locked up by the agents of the Receiver/Manager in an exercise carried out under the supervision of men of the Nigerian police as directed by the Court order.
According to the said order, Ben Bruce’s companies are owing AMCON the sum of N11 billion which the companies have defaulted in paying up.
AMCON reportedly revealed that Ben Bruce used his companies sometimes in 2005-2007 and borrowed various sums of money from the Union Bank of Nigeria Plc and defaulted in his obligations to pay back.
Realizing that Ben Bruce was not ready to pay back the money, AMCON appointed the Receiver/Manager to recover the loan who alongside with large armed policemen were seen on Thursday, sealing up the premises of Silverbird Group of Companies in Lagos, Abuja and Port Harcourt.
Kunle Adegoke, counsel to the Receiver/Manager disclosed that the sealing up of the senator’s properties on Thursday had “all the paraphernalia of legality.”
“Aside from the fact that the receivership was done pursuant to deeds of legal mortgages duly executed by the three companies and guaranteed by Ben Murray Bruce and four of his brothers, there is a court order backing same up.
“It must be borne in mind that innocent depositors’ money is what the Commonsense propagator and his brothers have been living large and feeding fat upon without recourse to the interest of the real labourers who own the money,” Adegoke said.