Senator to lose Silverbird cinemas over N11bn debt

The Asset Management Corporation Of Nigeria, AMCON, has gotten an order by a Federal High Court in Lagos, Nigeria to take over Ben Murray Bruce owned Silverbird Cinemas.

According to a tweet by SaharaReporters, the court has granted AMCON an order to take over companies owned by 'common sense' legislator for owing N11bn.

ALSO READ: Jimoh Ibrahim loses NICON, Oil company, houses to N50bn debt

It was further reported that Senator Murray-Bruce and his business family members have defaulted in the repayment of N11b loan to AMCON, hence, the order by the court to take over the companies, which is led by the Silverbird Cinemas.

The report revealed that AMCON will take over SilverbCinemas by Thursday morning, June 23, 2016 over the N11b loan default.

It should be noted that AMCON recently got a court order to take over the properties of business mogul, Jimoh Ibrahim after he defaulted in paying back a loan of N50bn.