ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, January 20, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Ben Murray-Bruce (Photo Credit: Nigerian Monitor)

Ben Murray-Bruce (Photo Credit: Nigerian Monitor)

Unpaid Debt: AMCON set to take over Ben Murray-Bruce’s companies, assets

byMusikilu Mojeed
June 23, 2016
2 min read
ADVERTISEMENT

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 are being seized following the failure of Senator Murray-Bruce and his brothers 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.

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.

Silverbird Galleria, Lagos, ... One of the assets to be seized... Photo Credit:
Silverbird Galleria, Lagos, … One of the assets to be seized… Photo Credit: www.aboutlagos.com

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.

RelatedNews

VIDEO: How communal crisis set back my farming business – Susan Godwin

Nigeria migrates all mineral titles to digital canvas expecting revenue windfalls

COVID-19: Lagos intensifies public sensitisation on second wave

Aero Contractor MD, Ado Sanusi, steps down

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, who is the senator’s first son.

Dangote adbanner 728x90_2 (1)

An AMCON insider said Mr. Banire had concluded arrangements to take over the assets on Thursday morning (today).

Senator Murray-Bruce could not be reached, Thursday morning, to comment for this story. His known telephone line failed to connect. He is also yet to reply a text message sent to him.

FIRST PAGE OF COURT ORDER CLEARING AMCON TO TAKE OVER SENATOR MURRAY-BRUCE'S ASSETS
FIRST PAGE OF COURT ORDER CLEARING AMCON TO TAKE OVER SENATOR MURRAY-BRUCE’S ASSETS

DOWNLOAD COURT ORDER CLEARING AMCON TO TAKE OVER SENATOR MURRAY-BRUCE’S ASSETS

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

Oshiomhole, Okowa bicker over Edo governorship poll

Next Post

EXCLUSIVE: Aisha Buhari writes Fayose, spits fire

Musikilu Mojeed

Musikilu Mojeed

More News

Nigerian Police on patrol

Police nab suspected killers of immigration officer, 6-year-old girl

January 20, 2021
Anchor University

Anchor University Deputy VC kidnapped

January 20, 2021
Slain security man, Odion Omoera

Gunmen kill private security guard in Benin

January 20, 2021
British High Commission

UK-Nigeria Tech Hub launches virtual capacity building programmes

January 20, 2021
Access-Bank

Access Bank seeks presence in eight African countries to tap AfCFTA opportunities

January 20, 2021
Tiffany Trump announced her engagement to her Nigerian-Lebanese lover, Michael Boulus, on her father's last day in office (Photo Credit: Tiffany Trump Instagram)

Trump’s daughter announces engagement to Nigerian-Lebanese

January 20, 2021
Next Post
EXCLUSIVE: Aisha Buhari writes Fayose, spits fire

EXCLUSIVE: Aisha Buhari writes Fayose, spits fire

UPDATE: AMCON seizes Ben Murray-Bruce’s Abuja, Port Harcourt, Lagos properties

UPDATE: AMCON seizes Ben Murray-Bruce’s Abuja, Port Harcourt, Lagos properties

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps Address Nationwide
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.