Joint administrators for NMC Health, the holding company of the UAE-based healthcare provider NMC Group, have said the company will probably be dissolved or put into liquidation.
Administrators from the consulting firm Alvarez & Marsal Europe were appointed in April to oversee the hospital operator, after an application from one of its biggest creditors, Abu Dhabi Commercial Bank.
The bank has since begun criminal proceedings against an unspecified number of individuals at the company, which has been delisted from the London Stock Exchange and is now the subject of a UK accounting investigation.
The administrators said it would not be possible to conclude the outcome of the process until all investigations had progressed and the liability p…
Read the full article at: https://www.theguardian.com/business/2020/may/29/scandal-hit-nmc-health-on-verge-of-liquidation