NMC Health administrator starts filing legal action against Ernst & Young
- Date: 08-Nov-2020
- Source: Mubasher
- Sector:Healthcare
- Country:uae-top-picks
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