NMC Health administrator starts filing legal action against Ernst & Young


UAE - Mubasher: The administrator of NMC Health, Alvarez & Marsal, has taken preliminary steps towards filing a lawsuit against NMC’s auditor, Ernst & Young, Reuters reported. The administrator of NMC Health seeks to raise recoveries for creditors of the UAE hospital group, as shown by a document on Friday. Since going into administration in April, Alvarez & Marsal, specialised in restructuring and turnaround, has run NMC Health. In a report published on 6 November about the recent developments in the health group's administration process, Alvarez & Marsal remarked that it considers whether actions could be taken against individuals and/or third parties to increase recoveries.

"We have interviewed and selected leading counsel to advise us in relation to potential ...read more...