The Asset Management Corporation Of Nigeria (AMCON) has
already started taking over Bruce's assets, following the failure of Senator
Murray-Bruce and his brothers to settle an N11bn loan owed
to Union Bank and
later acquired by Asset Management Corporation of Nigeria (AMCON).
Murray Bruce and his brothers had borrowed a huge sum of
money from Union bank in the past few years using their company as a
collateral. After they had repeatedly defaulted in paying back, AMCON purchased
the loan in 2011 to save the bank from collapsing
AMCON is now seizing the assets belonging to the three
companies used in securing the loan – Silverbird Productions Limited,
Silverbird Showtime Limited and Silverbird Galleria Limited.
The planned takeover followed 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
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