AMCON TAKES OVER SILVERBIRD TV, RADIO AND CINEMAS
- Post By Emdee David 11:20am on Thursday 23rd June 2016
AMCON takes over Silverbird TV, Rythm FM, and Silverbird Galleria over N11 billion unpaid debt. Read More:
Following a court order on June 17 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 assets belonging to Senator Ben Bruce and his brothers are to today to be taken over by the Asset Management Corporation of Nigeria (AMCON).
The court had ascertain that Senator Murray-Bruce and his brothers to has failed to settle an N11 billion loan they took from Union Bank. AMCON had acquired the loan to save Union Bank from crashing and now got the court ruling to seize the assets used as collateral to secure the loan.
The assets include Silverbird Galleria located at 133, Ahmadu Bello Way, Victoria Island, Lagos, Silverbird Galleria in Abuja on Plot No 1161 - the plaza at Central Area Cadastral Zone AOO, and the building at Abonnema Wharf Road and Abali Park in Port Harcourt, Rivers State.