AMCON takeover: 5 things that will happen to Ben Bruce businesses

Nigerians woke up to the new this morning that the Asset Management Corporation of Nigeria (AMCON) has taken over Silverbird offices in Lagos, Abuja and Port harcourt.
The Silverbird group is owned by prominent businessman and vocal senator representing Bayelsa East Federal Constituency, Ben Murray-Bruce.

Ben Murray-Bruce, chairman of Silverbird group

AMCON is an institution formed by the Late Umaru Musa Yar’adua administration to buy bad or non performing loans from commercial banks.

The company was setup amidst the financial crisis that ensued in 2010 when the present Emir of Kano, HRH Sanusi Lamido Sanusi was the governor of the Central Bank of Nigeria (CBN), which saw over half a dozen Nigerian banks taken over by the CBN.
AMCON’s action is due to an alleged N11billion loan owed by Ben Bruce organisation, Silverbird group which they say has not been paid for sometime.
AMCON sources squealed to nairametrics.com, the next five steps they will take after the takeover.
Read below:
1. AMCON has been appointed a receiver manager to run the place and make sure everything goes smoothly
2. Assets taken over are all Silverbird assets in Lagos, PH and Abuja.
3. AMCON anticipates that all shops will remain open
4. AMCON does not takeover companies to kill them. The receiver manager was not appointed to close the place down.
5. Receiver manager may however rework contracts for expired tenants.