Hospitals group NMC to file for administration in Abu Dhabi - Reuters:
NMC Healthcare LLC plans to file for administration in Abu Dhabi, the UAE-based hospitals operator said on Wednesday, as it targets a three-year recovery plan involving a debt moratorium, debt restructuring and asset sales.
Its London-listed holding company NMC Health Plc is already being run by administrators Alvarez & Marsal after going into administration in April following months of turmoil over its finances.
NMC Healthcare LLC plans to file for administration with the Abu Dhabi financial centre ADGM, it said in a presentation posted on its website on Wednesday.
Alvarez & Marsal will also be appointed as administrators of the UAE business, it said.
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