BY ADEDIWURA OKELEYE
A few days ago, Assets Management Corporation of Nigeria, AMCON, took over Silverbird Galleria Limited, Silverbird Promotions Limited, and Silverbird Showtime Limited all owned by businessman and serving senator, Ben Murray-Bruce and his family.
The takeover was as a result of the failure of the companies to pay back an 11 billion naira loan they took from Union Bank some years ago.
Ben Murray Bruce came out to tell people that things were going to be under control and that he’d bounce back. He also granted a Twitter interview with Guardian and said there was no shame in taking a loan as that was what enabled him to employ several Nigerians.
However, the sealed off companies are now opened again for business but under a different leadership. Kunle Adegoke, an attorney working with Muiz Banire, the debt recovery manager overseeing the takeover told Premium Times that the businesses were only repossessed and not liquidated therefore the reopening should not come as a surprise.
According to PT, the lawyer said AMCON would continue to superintend the affairs of the businesses in order to make them more effective and profitable, but added that Mr. Murray-Bruce and his brothers would be carried along in the day-to-day running of the businesses.
“That is true. The purpose of receivership is to ensure the businesses are run consistently and to recover the loan that is outstanding against the three companies. So, it is to that effect that we directed this afternoon that they should reopen the businesses.”
“That the receiver has taken over the finances of the organisation together with the administrative office. The purpose being that if the essence is to recover the money that is outstanding against these companies, then also the receivables that would come from the businesses should be the fundamental target pursuant to the order of the court.
“So we have directed that the television should go back on air and the radio.
“The essence is not to kill the business but to make it profitable. So that is the situation right now. What we have decided as the receivers is to ensure that the existing management would have to work with us to ensure that things are perfectly run,” Mr. Adegoke said.