By: Our Correspondent
If information reaching our news desk is anything to go by, Ben Murray-Bruce lawmaker representing Bayelsa East at the National Assembly (Senate) may be losing some valuable assets including three companies belonging to him.
Benedict Murray-Bruce, a member of the People’s Democratic Party despite being a politician, is a Nigerian business magnate and founder of Silverbird Group.
Except there is a last-minutes change in plans, the Asset Management Corporation of Nigeria (AMCON) will on Thursday morning take over the assets of three companies belonging to politician Ben Murray-Bruce and his brothers.
The assets, we gathered were seized the Bayelsa-born Senator and his brothers failed to settle an N11 billion loan owed Union Bank and acquired by AMCON.
AMCON was established on July 9, 2010, as a key stabilizing and re-vitalizing tool for stabilising the nation’s financial system.
Its enabling law empowers it to acquire non-performing loan assets of Nigerian banks at fair values and then put them to economic use in a profitable manner.
Mr. Murray-Bruce and his brothers, using their companies, had between 2005 and 2007 borrowed various sums of money from Union Bank.
After they repeatedly defaulted in paying back, AMCON purchased the loan in 2011 to save the bank from collapsing.
The assets seized by AMCON are belonging to the three companies used in securing the loan – Silverbird Productions Limited, Silverbird Showtime Limited and Silverbird Galleria Limited.
Silverbird Cinema, Port Harcourt, Rivers State, one of the assets to be seized
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 magnificent structure located at Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.
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.
The order allows the Receiver/Manager to take possession of the said properties.
AMCON had on April 18 appointed a Senior Advocate of Nigeria, Muiz Banire, the receiver/manager over the sprawling properties.
Named as defendants in the suits are Senator Murray-Bruce, Guy Murray-Bruce, Michael Murray-Bruce, Guy Murray-Bruce and Jonathan Murray-Bruce, the senator’s first son.
An AMCON insider said Mr. Banire had concluded arrangements to take over the assets today (Thursday).
Senator Murray-Bruce is yet to comment on this story.
