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BR Shetty, other NMC former executives face asset freeze by court Staff Report/Dubai Photo: Reuters The court’s judgement cited a witness statement from NMC CEO that the alleged fraud was carried out by the former executives. A UK court has ordered worldwide asset freeze of NMC Health’s founder BR Shetty, former CEO Prasanth Manghat and a couple of other top former executives upon the request of Abu Dhabi Commercial Bank (ADCB). Also read: The Abu Dhabi-headquartered healthcare firm collapsed and went into administration last year after financial irregularities were discovered. Abu Dhabi Commercial Bank has the highest exposure to NMC Health and leads the negotiations and legal cases against the former management team of the company. ADCB has over Dh3.7 billion ($1 billion) exposure to NMC. In addition, a number of other local and foreign lenders have also exposure to the troubled healthcare firm. NMC has undisclosed a debt of $4 billion. ....
SHARE London s High Court placed a worldwide freezing order on the assets of the principal shareholders and former executives of NMC Health, the company founded by BR Shetty. The order was secured by Abu Dhabi Commercial Bank, which is the group s biggest creditor with exposure of more than $1bn to the company, following a private hearing held in December last year without prior notice to avoid the risk that alleged fraudsters would be tipped off , judge Justice Bryan said in his ruling on the order. The order freezes the assets of Mr Shetty and NMC s other principal shareholders – as well as those of former chief executive Prasanth Manghat and other former company executives. ....
The transaction is expected to be complete by H1 2021 by Zainab Mansoor December 21, 2020 NMC Health (NMC), which consists of NMC Health and NMC Healthcare Ltd, has entered into an agreement to sell Eugin Group for a total enterprise value of $525m (€430m). The sale of Eugin Group made to European private hospital operator Fresenius Helios, consists of Luarmia and Boston IVF Ventures. The transaction is expected to complete by the end of H1 2021. In August 2020, NMC Healthcare set out a three-year business plan, which included a renewed focus on driving growth in its core markets in the Middle East. NMC is committed to seeking exits on commercial terms from international activities that are not considered to be core operations. This transaction represents a strategic milestone in the delivery of the business plan. ....
Fresenius, dueño de Quirónsalud, derrota a CVC y ultima la compra de las clínicas Eugin por 350 millones eleconomista.es - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eleconomista.es Daily Mail and Mail on Sunday newspapers.
Fresenius, dueño de Quirónsalud, derrota a CVC y ultima la compra de las clínicas Eugin por 350 millones eleconomista.es - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eleconomista.es Daily Mail and Mail on Sunday newspapers.