Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

NMC Administrators Say They’re Near Bottom of Hidden Debt Pit

Aug. 19, 2020, 3:52 PM

NMC Health Plc’s administrators said that they’ve uncovered most of the hidden debt that caused the Middle East hospital operator to collapse.

The caretakers of the business are now looking into a range of options to recover some of those funds, Marija Simovic, managing director at Alvarez & Marsal, the restructuring specialist appointed as joint administrators in April, said in an interview Wednesday.

“Do we believe a majority of it has been identified? Yes. Is it 100%? No,” she said. Investigations into the alleged fraud continue to reveal new information, which the administrators and their legal teams are ...