Alvarez & Marsal applies for 12-month extension to NMC administration in UK

Alvarez & Marsal applies for 12-month extension to NMC administration in UK

Alvarez & Marsal, the administrator of the UAE's biggest healthcare operator NMC Health, plans to apply to the UK High Court for a further extension for the company's plc entity early next year.

While the FTSE-100-listed company's UAE entity should exit administration in the next six weeks, according to Alvarez & Marsal, and start operations under new ownership next year, the UK administration process will need more time.

Richard Fleming, the joint administrator who leads Alvarez & Marsal’s restructuring practice in Europe, said the application to extend is “a totally natural thing”.

“You get appointed a year at a time, so every year you extend. Because we are litigating against third parties, those litigations will take some time, so you just go through a process of extending every year, that's just a normal thing,” he said with the plc administration set to last "as long as the litigation lasts".