NMC Health Seeks Chapter 15 Bankruptcy Court Protection in U.S.

NMC Health Plc files for protection from its creditors and is seeking recognition of proceedings in the U.K. and allowing administrators to “maximize the value of assets owned in the U.S., including certain medical practices.”

• Certain shareholders commenced litigation against NMC is the U.S., co. says in court papers
• Filing cites total liabilities of $1.873b and “possible fraudulent activity leading to the UK Proceeding, including the discovery of at least $2.7b in previously undisclosed facilities to NMC Group”
• The Abu Dhabi-based company runs private medical facilities across 19 countries, with its primary focus in the Middle East. It also owns ...