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UK court orders asset freeze of NMC founder BR Shetty, other company executives 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank by Staff writer February 16, 2021 A court in London has ordered a worldwide freezing order on the assets of BR Shetty, founder of UAE-based NMC Health, as well as other senior former executives of the company. The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank (ADCB), which has exposure of more than $1bn to the group, ....
NMC Health expects UAE, Oman operations to continue in 2021, after sale of non-core assets 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP NMC Health expects UAE, Oman operations to continue in 2021, after sale of non-core assets NMC is undertaking a complete restructuring of its balance sheet following the discovery of significant fraud and debt February 11, 2021 UAE-based NMC Healthcare, which was forced into administration last year, reported that revenues for the group dropped 6 per cent in 2020 to $1.53bn, down from $1.63bn in 2019. Meanwhile gross revenues for NMC’s UAE and Oman operations reached $1.12bn, down 6.8 per cent from 2019. ....