⁍ Alvarez & Marsal appointed administrator of group of NMC Healthcare businesses.
⁍ Richard Fleming and Ben Cairns of Alvarez & Marsal appointed as joint administrators.
⁍ Turnaround specialist said appointment related directly to 36 businesses in UAE.
– Abu Dhabi’s Global Market Courts has appointed turnaround specialist Alvarez & Marsal as administrator for a group of 36 operating businesses in the United Arab Emirates, Reuters reports. The move “will also allow the group of entities to secure an additional $325 million financing facility whilst protecting the businesses from creditor action,” Alvarez & Marsal said in a statement.
Source: https://www.reuters.com/article/us-nmc-adgm/alvarez-marsal-appointed-administrators-of-nmc-healthcare-in-the-uae-statement-idUSKBN26I0QY