Nmc Health Share Discussion Threads

[silverstone1] 14/6/2020 13:44

I WARNED EVERYONE IN DECEMBER 2019 THAT NMC WOULD COLLAPSE BECAUSE IT CAME STRAIGHT FROM THE HORSES MOUTH!🐴

[urbanvoltage] 14/6/2020 11:26

13 hours ago
The administrators of NMC Health have questioned the firm’s founder, BR Shetty, as part of their inquiries into how the FTSE 100 hospital operator collapsed with billions of dollars of undisclosed debts.
Alvarez & Marsal has begun interviewing directors, shareholders and staff of the private hospital operator as part of its efforts to establish its true financial position and salvage NMC’s assets for creditors.
Mr Shetty, an Indian businessman who founded the firm in the United Arab Emirates in the mid-Seventies, is understood to be one of the people already interviewed.
NMC plunged into administration in April after being hit by confusion over the ownership of its shares, billions of dollars of secret debts and suspected fraud.
Mr Shetty vowed in April to clear his name and said he was the victim of “serious fraud”. He blamed company executives for the collapse of his business empire, which also includes Finablr, the struggling payments firm.
A person close to the administrators said they are “only in the foothills of their Himalayan expedition” to unpick the web of transactions that brought down NMC.
The investigation will involve a review of hundreds of thousands of accounting entries, according to a document filed at Companies House last month.
Administrators and advisers racked up £722,391 in costs, including £380,000 for lawyers at DLA Piper, in the 18-day pre-administration period.
Abu Dhabi Commercial Bank, one of NMC’s major creditors, has provided $1.5m to bankroll the administration with more expected to follow under a funding agreement.
NMC’s subsidiaries, which continue to operate, are expected to shoulder some of the investigation costs, the administrators said.
A slew of City firms, including the London Stock Exchange, Deloitte and FTI Consulting could lose hundreds of thousands of pounds of fees owed to them by NMC when it went bust.
The exchange, where NMC’s listing was suspended in February, is owed £186,000. Deloitte is owed more than £56,000 while FTI is owed £200,000.
Alvarez & Marsal said NMC may have drawn down materially less than the $7.4bn of debt facilities identified so far.
Richard Fleming, one of the administrators, said his firm had inherited a complex situation and is assessing whether it can make legal claims or take other action.
He said: “Our primary objectives following our appointment have been to ensure continuity of patient care, stability for staff and suppliers, protection of assets and immediate financial security for NMC’s operating companies.”
Mr Shetty declined to comment.

[silverstone1] 11/6/2020 16:46

I DON'T GET MY GIRO UNTIL MONDAY!😂

[borg45] 11/6/2020 13:15

Your mum says you have until Friday to pay your rent or your out

[fairlight] 10/6/2020 21:48

Silverstone - really - I doubt a retired stockbroker bothers to post on this amateur bb - well your a real player aren't you! NOT!

[silverstone1] 10/6/2020 20:29

BORG45, I'M A RETIRED STOCKBROKER AND I CAN AFFORD TO BUY ANOTHER MANSION WITH THE PROFIT FROM MY FTSE PUT OPTIONS, BOUGHT IN FEBRUARY AT A BARGAIN PRICE OF 7,500 AND SOLD IN MARCH AT A STRIKE PRICE OF 5,000!😂

[borg45] 10/6/2020 10:35

You can't even find the caps button on a pc so making out you live in a house like that just isn't believable have you paid you mum the rent this week

[silverstone1] 09/6/2020 07:16

NMC DOES NOT EXIST EITHER!😂

[dudishes] 09/6/2020 00:28

m w, that ref does not exist. Try again.

[m w] 08/6/2020 17:46

hxxps://m.khaleejtimes.com/business/local/nmc-draws-up-3-year-turnaround-plan?fbclid=IwAR1P9Za2miVN-pvdztnwGZicFS6Y9Oub2V4QxvDdCj3GvPD_tYec6V8xYQ4

[silverstone1] 06/6/2020 15:42

BORG45, A COUNCIL HOUSE DOESN'T HAVE A SWIMMING POOL AND TENNIS COURT IN THE BACK GARDEN, DID YOU ESCAPE FROM A MENTAL ASYLUM?😂

[silverstone1] 05/6/2020 15:35

BORG45, YOU LOST A FORTUNE AND I MADE A FORTUNE, THEREFORE, I'M WILLING TO LET YOU LIVE IN THE SPARE WING OF MY NORTHAMPTONSHIRE MANSION UNDER THE RENT A ROOM SCHEME BECAUSE I CAN MAKE ANOTHER £7,500 PER YEAR TAX-FREE?😂

[borg45] 05/6/2020 11:18

Your mum says can you pay the rent on your bedroom this week then

[silverstone1] 05/6/2020 10:20

SHETTY & CO SHOULD BE KNIGHTED BECAUSE THEY MADE ME A FORTUNE!😂

[borg45] 04/6/2020 15:11

I want to see his hands cut off like they do with other thieves in the UAE

[farrugia] 04/6/2020 08:38

i hate corporate fraudsters - why haven't they put Shetty & Co in jail yet!?

[silverstone1] 31/5/2020 12:14

BORG45, YOU DIDN'T BELIEVE ME IN DECEMBER 2019 EITHER WHEN I POSTED ON ADVFN (SILVERSTONE1) AND LSE (CMF1) THAT INVESTORS SHOULD SELL NMC AT £18 BEFORE THEY COLLAPSE, AT THE SAME TIME I ALSO ADVISED EVERYONE TO SELL EVERYTHING BEFORE THE BEAR MARKET CRASH IN 2020!😂

[quidzinn] 30/5/2020 19:17

If any of you shareholders are in any doubt there is an official ‘hierarchyR17; laid down by the Insolvency Act, 1986, determines which group of creditors is paid first during an insolvent liquidation. When a company enters liquidation, each class of creditors must be paid in full (the exception being ‘prescribed part’ secured creditors) before funds are allocated to the next.

Creditors are ranked as follows:
1/Secured creditors with a fixed charge
2/Preferential creditors
3/Secured creditors with a floating charge
4/Unsecured creditors
5/Shareholders

Shareholders are the final group to be paid. Because they have taken a business risk in providing money to the company, they are not entitled to a distribution until all other creditor groups have been paid.

Q

[borg45] 30/5/2020 12:14

Nobody believes a word you say

[bbmsionlypostafter] 29/5/2020 12:29

Scandal-hit NMC Health on verge of liquidation

Administrators outline position of UAE’s largest healthcare provider which faces multiple investigations

Joint administrators for NMC Health, the holding company of the UAE-based healthcare provider NMC Group, have said the company will probably be dissolved or put into liquidation.

Administrators from the consulting firm Alvarez & Marsal Europe were appointed in April to oversee the hospital operator, after an application from one of its biggest creditors, Abu Dhabi Commercial Bank.

The bank has since begun criminal proceedings against an unspecified number of individuals at the company, which has been delisted from the London Stock Exchange and is now the subject of a UK accounting investigation.

The administrators said it would not be possible to conclude the outcome of the process until all investigations had progressed and the liability position was ascertained.

They also stressed that all of the constituent members of the wider NMC Group, the largest private healthcare provider in the UAE, were continuing as previously.

“This is a standard part of the formal process of administration for NMC Health Plc, the holding company that was listed on the London stock exchange, and does not in any way impact the ongoing trading of the wider group,” said one of the joint administrators Richard Fleming.

The administrators also said that, based on their current estimates, they anticipate the company’s preferential creditors could receive a dividend of approximately £1.

NMC first came under scrutiny late last year when the US-based short-seller Muddy Waters criticised its financial statements.

The company later revised its debt position to $6.6bn, $4bn more than it had previously disclosed.

[silverstone1] 28/5/2020 11:39

SMCNI1968, I'M STILL ALIVE AND WELL, SPENDING SOME OF THE FORTUNE I MADE FROM NMC!😂

[karateboy] 23/5/2020 09:40

Quid boy why didn't you short the NMC all the way? Just copy your short position and date you closed it and let's every one to see. No body knew that these criminals set up these companies for their criminal activities, Even MW. If you knew then Let's see your short position. If you don't produce an evidence, do you accept you are just another sick men waisting their times to advocate their self importance.