The Assets Management Company of Nigeria, AMCON on Thursday took over the assets of Silverbird Group, owned Nigerian Senator, Ben Bruce.
Bruce’s companies under the group in Lagos, Port Harcourt and Abuja were sealed with the help of security operatives who prevented entrance and exit into the buildings over unpaid debts totaling N11 billion.
Silverbird Television, also owned by the group has stopped broadcasting, as at Thursday morning.
AMCON had by notice of appointment dated April 18, appointed Muiz Banire as Receiver/Manager over the assets of the three companies located at 133 Ahmadu Bello Way, Victoria Island, Lagos, Plot No 1161 (Silverbird Galleria); Central Area Cadastral Zone AOO, Abuja; and Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.
Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, had on June 17 granted application filed by AMCON allowing the Receiver/Manager to take possession of the said properties.
Premium Times reports that Ben Bruce used his companies sometimes to borrow funds from Union Bank of Nigeria Plc
“The said loan was purchased by AMCON in 2011 after the capital base of Union Bank was terribly shaky”, Kunle Adegoke, counsel to the Receiver/Manager was quoted to have said.