NMC Heads to Administration After Giving In to Creditor Demands
- Company’s decision comes on eve of London court hearing
- Abu Dhabi bank pushed hospital operator toward administration
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NMC Health Plc bowed to creditor demands to be placed into administration, saying it’s in no position to contest Abu Dhabi Commercial Bank PJSC’s efforts to install new management.
The troubled Middle Eastern hospital operator said on the eve of a London court hearing that it expects to be placed into administration “in due course.” NMC’s new chairman had resisted creditors arguing that such a move would endanger lives as the coronavirus spreads across the United Arab Emirates.