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NMCH was forced into administration in 2020 after the disclosure of more than $4 billion in hidden debt left many UAE and overseas lenders with significant losses.
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United Arab Emirates hospital group NMC Healthcare (NMCH) received an injunction from an Abu Dhabi court on Wednesday to prevent its creditors from taking legal action against it in another jurisdiction.
NMCH was forced into administration in 2020 after the disclosure of more than $4 billion in hidden debt left many UAE and overseas lenders with significant losses.
Quinn Emanuel, the law firm representing NMCH, said it has obtained a final countersuit injunction from the Abu Dhabi Global Markets Court against Abu Dhabi investment firm Noor Capital to prevent it from enforcing judgment debts of AED 567.2 million ($154.44 million). .
The law firm said Noor was trying to enforce the Dh567.2 million judgment against NMCH in a Dubai court and was trying to put itself in a better position than other unsecured creditors.
Noor Capital did not immediately respond to a request for comment.
business@khaleejtimes.com
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