NMC Health will most likely be liquidated or dissolved - Administrators

(Reuters) - Joint administrators for NMC Health said on Thursday that they expect dissolution or liquidation as the most likely outcomes of the company's administration process that began in April. Administrators from consulting firm Alvarez and Marsal Europe said that until all investigations into the company have progressed and the liability position is ascertained, it would not be possible to conclude the ultimate outcome of the process. NMC Health is the largest private healthcare provider in the UAE but came under scrutiny late last year when U.S.-based short-seller Muddy Waters criticised its financial statements.

Reuters May 29, 2020 02:05:49 IST
NMC Health will most likely be liquidated or dissolved - Administrators

NMC Health will most likely be liquidated or dissolved  Administrators

(Reuters) - Joint administrators for NMC Health said on Thursday that they expect dissolution or liquidation as the most likely outcomes of the company's administration process that began in April.

Administrators from consulting firm Alvarez and Marsal Europe said that until all investigations into the company have progressed and the liability position is ascertained, it would not be possible to conclude the ultimate outcome of the process.

NMC Health is the largest private healthcare provider in the UAE but came under scrutiny late last year when U.S.-based short-seller Muddy Waters criticised its financial statements. [nL4N28R2T0]

(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Krishna Chandra Eluri)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS: