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IWG says demand for office space rising as UK companies plan for hybrid working

Last modified on Tue 27 Apr 2021 15.36 EDT The office space provider IWG has said occupancy levels in its buildings are improving and it is receiving more inquiries from potential tenants, as it records the beginnings of recovery from the pandemic. The world’s biggest workspace provider, formerly known as Regus, said it was experiencing strong demand from businesses planning future hybrid working, where employees split the week between their home and an office desk not necessarily inside their corporate headquarters. The optimism from IWG came as it reported what it called the “trough” of its financial performance in the first three months of the year.

ADCB secures freezing order on BR Shetty s assets

NMC Health fell into insolvency last year and ADCB is its biggest creditor. NMC Health was founded by Mr Shetty in 1975 and grew to be Abu Dhabi s biggest privately-owned healthcare company. However, the company was placed into administration last year after an independent investigation uncovered more than $4.4 billion of previously undisclosed debt. The lender contends that the reason for the group s insolvency was fraud on a massive scale, and that Mr Shetty was a participant , the order states. It follows on from action taken by ADCB in the English courts in December last year granting a worldwide freezing order on the assets of Mr Shetty and five other former NMC shareholders and directors, which granted permission to the lender to seek a domestic freezing order in Abu Dhabi. The five companies named in the ADGM Court order are BRS Investments Holdings 1, BRS Investments Holdings 2, BRS Investments Holdings 3, BRS Investment Property and BRS Health.

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