Abu Dhabi's NMC Healthcare set to say a final 'goodbye' to B.R. Shetty legacy on September 1 | Markets – Gulf News
The current management at NMC Healthcare – UAE’s biggest privately-owned hospital operator – will not be distracted by what its founder Dr. B.R. Shetty has been doing.
Even when he has filed a $7 billion plus compensation claim in a New York court alleging that he was a victim of financial fraud carried out by the former management of NMC working with a coterie of banks and officials. It is not clear why Shetty, based in the south Indian state of Karnataka for more than a year now, filed for compensation in a US court. Nor is it known whether Shetty intends to fly back to the UAE now that flight services have resumed.
But none of this matters to NMC Health and the executives at Alvarez & Marsal, the consultancy that has been overseeing the hospital operator’s return to full financial health. Or somewhere close to it.
“We don't see that cutting across what we do [here],” said Benjamin Cairns of A&M, responding to a question whether Shetty filing a case in New York will have any bearing on NMC’s immediate future and plans. (A&M was appointed by a UK court to take on the task of restructuring NMC after evidence of billions of dollars of bank loans being diverted from the company’s coffers came to light early last year.)
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