Nmc Health Share Discussion Threads

[ham74] 24/3/2020 18:33

Is there any precedent for recovering money in relation to potentially fraudulent loans? The fact that the release talks about "debt obligations" makes it sounds as if NMC is on the hook. If loans were obtained for third parties, could NMC invalidate the obligation and move them over to those parties? Any precedent? By coincidence, the 8 billion market cap minus 6.6 billion debt takes us to roughly the market cap when the shares were suspended.

[jasonblue66] 24/3/2020 17:44

https://www.livemint.com/companies/people/how-br-shetty-went-from-billionaire-to-bust-11582136713887.html

[goliard] 24/3/2020 17:01

But the clean slate wasn't clean. It was as dirty as hell. The assets, or at least some of them, are great, but unlikely to be worth as much as the liabilities. If you are a shareholder it is the EQUITY value that matters not the asset value and the equity value is low or zero.

[nael2020] 24/3/2020 16:45

hxxp://www.brsventures.com/about-brs-ventures/

[silverstone1] 24/3/2020 16:08

LIONHEART69UK1, THE BEAR MARKET IS ONLY JUST BEGINNING, SO WHY DO YOU WANT TO START BUYING ALREADY? DON'T FALL INTO TODAY'S BEAR TRAP!

[urbanvoltage] 24/3/2020 15:57

The primary assets are a golden goose....hence the con...if the current owners (shareholders) can recover any of the stolen money that's a bonus. With a clean slate this company was once valued at £8 Billion....The £6.6 Billion is a problem !.....but some of it will be reclaimed and we are left with the golden goose. There is all to play for with some very talented and wealthy people in the room who stand to benefit. As for us we are left to shout about the company going bust and I told you so...I might make a few quid....

[steeplejack] 24/3/2020 14:41

Nothing to do with stockbrokers or analysts,it's about the firms who certified the accounts.

[steeplejack] 24/3/2020 13:48

Asil Nadir got ten years.But.....Polly Peck went bust.If this company continues to exist,I'd be astonished.I'm sure the lenders would be only too happy to have the company continue its operations presuming that the figures are near accurate.However,that P&L is likely to be fictitious for which E&Y should be thoroughly ashamed.This company simply can't live with 6.5bn of debt.Shareholders will be wiped out.

[lionheart69uk1] 24/3/2020 13:47

So Mr.Silverstone, in your expert opinion, when do you think the current virus recession will be over and/or when should we start buying the staples again?

[urbanvoltage] 24/3/2020 13:26

Retired stockbrokers are always right....

[silverstone1] 24/3/2020 13:18

SINCE DECEMBER 2019 I'VE BEEN POSTING ABOUT THE COLLAPSE OF NMC AND A BEAR MARKET IN 2020 BECAUSE FRAUDULENT COMPANIES ALWAYS COLLAPSE!

[ham74] 24/3/2020 12:51

Is there any precedent for fraudulent debts of a company being invalidated, and/or proceeds being recovered?

[urbanvoltage] 24/3/2020 12:25

kick backs...remember the Panama Papers...there are a lot of hidden bribes in capitalism.

[billytkid2] 24/3/2020 12:12

Needs to be some serious prison sentences for this. Can't get my head around how this much debt can be agreed with banks without board approval and going under the radar.

[urbanvoltage] 24/3/2020 12:02

$6.6 billion...$4.5 billion in undeclared debt...you just can't steal that amount of money without drawing attention to yourself...I think Freeh was brought in by the UAE authorities, not the NMC board. If they find the cupboard there will be a lot of money in it....Matthew J. Wilde in a newly created role of Chief Restructuring Officer seems like a good appointment...they are trying to sort this out with, I believe the support of the UAE authorities, I wish them justice.

[ham74] 24/3/2020 11:33

Anything for shareholders would be a very remote prospect. Only possible glimmer of hope is talk of recovering monies, but how likely is that?

[ham74] 24/3/2020 11:32

Anything for shareholders would be a very remote prospect. Only possible glimmer of hope is talk of recovering monies, but how likely is that?

[goliard] 24/3/2020 11:08

Wow. Another $1.6 billion of debt found and lots more irregularities brings the debt up to $6.6 billion. Hard to fathom the scale of the fraud here.

The Board of NMC has received another update on 23 March 2020 advising that the Group's debt position is currently estimated to be around $6.6 billion...Work on verifying the outstanding debt obligations is continuing.

On 10 March 2020 the Company estimated that its debts were about $5bn. Since that time, the Company has verified a further $0.3 billion is currently outstanding which relates to facilities which were known to the Board as at June 2019; $0.8billion of newly identified facilities undisclosed as at June 2019 and unapproved by the Board; and an additional $0.4 billion of facilities entered into post June 2019 and unidentified as at 10 March 2020.

...The Board believes that some of proceeds may have been utilised for non-Group purposes and work is commencing on a project to trace such proceeds with a view to considering what actions may be available to the Group to recover such monies.

...Furthermore, the Board has been informed of the presence of cheques (written by Group companies), which may have been used as security for financing arrangements for the benefit of third parties. A preliminary view is that the amount of these cheques totals approximately $50 million. The existence of these cheques has only recently been brought to the attention of the Board and urgent investigations are ongoing.

[urbanvoltage] 24/3/2020 10:00

There was the recent purchase of a 70 per cent stake in Premier Care Home Medical at $36.4 million in early 2018. This was a healthcare company with only 10 employees at the time.....the kick backs and greed is staggering.

[lako42] 24/3/2020 09:47

If it re-opens we are in for an absolute crash in proice based on what we have been insulated from.

[urbanvoltage] 24/3/2020 09:41

"Listed again or not is not relevant"....your Kung Fu is weak...no offence.

[karateboy] 24/3/2020 09:27

Share holders legal actions will be initiated regardless of what happens to the company. Listed again or not is not relevant. Company dropped out of Ftsee 100 due at best gross negligence of executive directors who all resigned in one go!! Because they knew what they have done, and at worst serious fraud. People who financially benefited from this, such as Dr Shetty and his crooks , banks lending duggy money with high interest,...must be sued. As a share holder I just believed what company told me through different RNS,...which turned up to be totally fabricated and false.

[urbanvoltage] 24/3/2020 09:01

I would rather shareholders keep hold of the company.....new investors welcome.