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The Abu Dhabi-headquartered healthcare firm collapsed and went into administration last year after financial irregularities were discovered. Abu Dhabi Commercial Bank has the highest exposure to NMC Health and leads the negotiations and legal cases against the former management team of the company. ADCB has over Dh3.7 billion ($1 billion) exposure to NMC. In addition, a number of other local and foreign lenders have also exposure to the troubled healthcare firm. NMC has undisclosed a debt of $4 billion.
London-based Financial Times reported that a high court ordered asset freeze against the six former senior executives to prevent the risk of dissipation of assets in light of the bank s compensation claim for losses due to financial discrepancies.
A number of other disaster declarations, cancellations and closures have also been announced to winter weather conditions.
In a Feb. 15 tweet, the city also noted issues with the its water supply due to power loss at the Guadalupe-Blanco River Authority.
Please conserve water. Due to a loss of power at GBRA of Texas (our surface water supplier), we are currently running the water system on groundwater wells with limited power supply availability. pic.twitter.com/4i8mRR6ji8 The city also issued guidance on how to protect water pipes from the freezing cold and how to respond to a burst pipe.
Houston Mayor Sylvester Turner said on Monday that his number one priority is looking out for the approximately 1.2 million CenterPoint Energy customers across the greater Houston area who have lost electricity in the widespread power outages that have gripped the entire state of Texas during the ongoing winter.