The Management of the Silverbird Group says it has commenced negotiations with the Asset Management Corporation of Nigeria (AMCON) over the seizure of some of its properties.

Group Vice President of Silverbird Group, Guy Murray-Bruce, said this on Thursday in reaction to the assets of three companies belonging to the group taken over by AMCON.

He described the whole situation as a business arrangement gone south, vowing that their properties would be restored.

Bruce said the development was not necessarily unusual for a company that had been in existence for over three decades.

“In 36 years, Silverbird has grown and like anybody, it will face challenges. Tough times don’t last. But we, as tough people, outlast them,” Murray-Bruce said in a reaction posted on his Twitter handle.

Murray-Bruce, is a senator representing Bayelsa East Senatorial District.

The Assets Management Corporation of Nigeria (AMCON) had earlier today announced a takeover of three of Murray-Bruce’s businesses — Silverbird Galleria Limited, Silverbird Promotions Limited, and Silverbird Showtime Limited.

All the companies are co-owned by Murray-Bruce and his brothers, Guy Murray-Bruce, Michael Murray-Bruce, Guy Murray-Bruce as well as his son, Jonathan Murray-Bruce.

The takeover came two months after AMCON, which was established in 2010 to manage delinquent loans of big firms and individuals, appointed Muiz Banire as the Receiver/Manager of the companies, following an alleged failure to meet up loan obligations with Union Bank of Nigeria.

AMCON had alleged that the assets were being seized following the failure of the company to settle an 11 billion Naira loan owed Union Bank and acquired by the corporation.

•Photo shows Guy Murray-Bruce.