Creditor claims against Abu Dhabi's NMC Healthcare now at $6.4b, could add another $650m | Banking – Gulf News
Total creditor claims against Abu Dhabi hospital operator NMC Healthcare is now at $6.4 billion, of which $6.3 billion are what it owes banks. Creditors have until end of this month to file their claims.
“We believe there are 10 main financial creditors who are yet to claim which might, if submitted, add a further $650 million to the claims total based on the companies’ records,” said a report from Alvarez & Marsal, which is overseeing the process.
“The ‘Bar Date’ for final submission of proof of debts has been set at 5pm (GST) on Friday, 30 April. The process of reviewing claims and supporting is ongoing.”
The adjudication process should play out between July to October.
NMC Healthcare, founded by Dr. B.R. Shetty in the mid-1970’s spectacularly imploded early last year after reports first came out that its financials were not transparent. That set off internal investigations that led to the ousting of the previous board of directors, including of Shetty.
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