The Assets Management Corporation of Nigeria, AMCON, has said it decided to reopen the Silverbird Group of Companies to enable it run effectively and settle its debt obligations.
The Silverbird Groups’s offices in Lagos, Abuja and Port Harcourt were sealed by AMCON last Thursday over an N11 billion debt, but were reopened the next day. Kunle Adegoke, an attorney working with Muiz Banire, the debt recovery manager overseeing the take over of the company, said that the company was only repossessed by AMCON but not liquidated and so will still be open for business.
“The purpose of receivership is to ensure the businesses are run consistently and to recover the loan that is outstanding against the three companies,” Adegoke told Premium Times newspaper. “So, it is to that effect that we directed that they should reopen the businesses on Friday.”
Adegoke said that it will run the affairs of the business in order to make them more effective and profitable, but would carry along the Murray-Bruce family in the everyday running of the place.