by Amruth Sundarkumar | Jul 23, 2021 | Distressed / Defaulted Bonds
BR Shetty, the founder of distressed UAE hospital operator NMC Health, has taken auditor EY, two former top executives of his companies and two banks to the US Supreme Court in New York seeking $8bn in damages for an alleged multibillion dollar fraud at his former...
by Amruth Sundarkumar | Jun 8, 2021 | Distressed / Defaulted Bonds
The creditors of UAE’s distressed hospital operator NMC Health have agreed to the restructuring of the group that will require them to trade their debt in return for equity. The administrator of the troubled hospital provider, Alvarez & Marshal (A&M) was...
by bondevalue | May 27, 2021 | Distressed / Defaulted Bonds
A judge in Abu Dhabi’s International Financial Center (ADGM) has ruled in favour of Dubai Islamic Bank (DIB) in a case dealing with claims over securities of the troubled NMC. According to the ruling, the ADGM court does not have jurisdiction over the agreements...
by bondevalue | Apr 15, 2021 | High Yield Bonds
Payouts to the debt holders of UAE’s largest healthcare provider, NMC could be put on hold after the company filed a lawsuit against Dubai Islamic Bank (DIB) to place securities claimed by DIB under its administrator Alvarez & Marshal (A&M). NMC’s...
by bondevalue | Apr 9, 2021 | Distressed / Defaulted Bonds
UAE’s largest private healthcare provider, NMC Health revealed through a lenders update call on Thursday that it is set to exit administration under the Abu Dhabi Global Market by 1H 2021 as its restructuring is spanning out as planned. According to the Abu...
