Nmc Health Share Discussion Threads

[m w] 22/1/2021 19:14

Very quiet on here is it wishful thinking to think we'll get anything back

[zammo_1] 16/12/2020 09:39

I have also been patiently waiting as I wrote to them in July

[triskelion] 24/11/2020 19:30

Not seeing NMC on HMRC's Negligible value claims and agreements list - yet.
(Whistling in the dark).

[mohdusman44] 23/10/2020 16:42

hxxps://gulfnews.com/business/michael-davis-confirmed-as-ceo-at-abu-dhabis-nmc-healthcare-1.1603439316959
Another fraudster appointed as CEO. Can't understand why Michael was appointed as CEO. He is a protégé' of Manghat and should have been equally culpable. They should have brought in a fresh face rather than a tainted guy elevated as CEO. Disgusting.

[urbanvoltage] 07/10/2020 21:17

Worth a read for those still interested...hxxps://cf-cdn.nmc.ae/Uploads/InvestorRelations/all-lender-call-presentation-date-07-oct-2020-07-oct-2020-6b8cb8c1-6fad-4904-9f82-217a5be57afd.pdf

Interesting to note.... Materially advanced compiling evidence of financial misstatements dating back to 2012
 Investigation is well progressed, with a good understanding of the nature of the fraud and dissipation of assets. Claims and
litigation strategy now being developed

Investigations:
• Preparation of litigation strategy
• Secure litigation funding
• Commence pursuit of wrongdoers

Key points to take away

– The Administrations are facilitators of the outcome
– There are a significant number of actions and steps required to complete the restructuring and
deliver value to all stakeholders
– The best outcome for stakeholder requires all lenders need to play their role by engaging with the
process (i.e provide timely Proof of Debts with all available supporting documentation)
– Joint Administrators are focussed on increasing communications with all lenders
– Next all lender call tentatively booked for either November 4 or November 11

[mohdusman44] 30/8/2020 18:54

Don't trust the current management headed by the interim CEO, Michael. Michael worked closely with Prasanth. Definitely he should be aware of what was going on. He should be thrown out and an external candidate should be appointed as CEO. The entire current management for that matter should be kicked out. Alvarez seems more interested in publicity stunt. They have not done anything concerete till now except the sell off of Distribution business at throwaway price and miking the company with their hefty fees. Alvarez is making the best out of situation. By the by, there were two emirati shareholders. Not heard much about them in the last fee months. Were they exonerated??

[mohdusman44] 30/8/2020 18:45

hxxps://www.thenational.ae/business/nmc-health-faces-legal-action-from-ivf-clinics-founders-1.1070274
Shetty and Prasanth are culprits. These two criminals should be jailed for life. Look at the audacity of Prasanth, he did not even took board approval for the trasnaction involving price gaurantee. These two fxxxxxs had screwed everyone, right from bankers, regulators, investors, govt agencies etc. Now shetty is crying foul. Its like the patriach and his foster son looting their own house and shifting the blame on maid, cook, driver etc. Bloody bxxxxxxs.

[silverstone1] 11/8/2020 14:31

TO REPEAT WHAT I SAID IN DECEMBER: FRAUDULENT COMPANIES ALWAYS COLLAPSE!😂

[urbanvoltage] 06/8/2020 16:57

Al Jazeera feature on NMC.....says Sheikh Mansour was the true owner

[urbanvoltage] 04/8/2020 13:45

“As Charles Darwin said; “Those who learned to collaborate and improvise most effectively have prevailed,”
Looks like he chose Darwin.So lets see..... survival of the fittest..... Prasanth Manghat, versus NMC and UAE Justice.

[yet another final] 17/7/2020 15:33

Need class action law suit by PIs

[mohdusman44] 12/7/2020 12:39

They have already sold off their Distribution business. The spanish ivf business was also put up for sale recently. Looks like the administrators are looking at disposing the overseas assets first and settle the creditors. The UAE assets will be finally taken over by any Govt entity like Mubadala. The key thing is that the CEO of Mubadala is the Chairman of ADCB. Currently ADCB is the one which is controlling NMC thru Alvarez and Marshall.

[mohdusman44] 12/7/2020 04:48

The bankers are to be blamed for their negligence. How come they never knew that NMC had so much of debts accumulated. By click of a a button, they could have found out the total exposure of NMC with all UAE banks from the Central Bank system. What were risk and credit departments at the banks doing?Banks were merrily approving loans looking at Shetty and Buttis and no on the any proper diligence. One thing is for sure, most of the bankers would have been paid for sanctioning the loans. The authorities should check how much funds the bankers have transferred during the last 10 years and the source of these funds. It is a massive scale industrialised fraud. Shetty, Butti, Qebaisi and Manghat being the perpetrators.

[mohdusman44] 11/7/2020 17:29

I would be very much interested to know about the guy who was responsible for the accounting function. He has done a great job in hiding and faking the numbers. Tried searching online
and came across a name, Deepak Ghosh. This guy will be highly in demand. Afterall he couod manage to forge usd 6.6 billon. Hats off to this guy.

[monte1] 11/7/2020 17:26

LOL

I think you may find the remit of an administrator does not stretch to prosecution and sentencing - that tends to remain within the domain of the relevant Legal authorities and the courts.

[mohdusman44] 11/7/2020 17:17

Don't understand why the Administrators have not recommeded Khalifa Bin Butti and Saeed Qebaishi to be put in jail. These two guys are equally responsible for the current situation. The gang of Prashant, Shetty, Khalifa and Saeed are equally guilty. The role of current CEO and other Senior Management officials shouod be investigated. These guys cannot be clean having closely worked with the earlier management.

[arja] 06/7/2020 18:44

that is why it is also worth buying index stocks suych as MIDD or investnent trust as easier to sleep at night , eg FCSS and just check the chart . Can make heaps on things like that and much less risk

[mohdusman44] 05/7/2020 18:00

The biggest comedy that I had come across. Another fraud company and its fraudster owners who had swindled funds from various banks now claiming that they are going for restructuring. Nice gimmick.


KBBO Group, whose chairman was a significant shareholder in troubled hospital group NMC Health, appointed a team of restructuring advisers to help put together a plan to reorganise its outstanding liabilities to various creditors.

“The group has been challenged by its exposure to NMC [Health] in addition to the Covid-19 outbreak, which has impacted various operations,” KBBO said in a statement on Wednesday.

It said it “responded proactively, taking measures to reduce the impact and ensure the continuity of operations, especially across the healthcare and food businesses given their strategic importance to the national economy.”

KBBO was founded in 2008 and invested in a number of healthcare companies, including NMC Health and Emirates Healthcare. It also invested in the education, food & retail, financial services, information technology and ventures sectors.

The company did not disclose the scale of its debt, but said the objective of the restructuring was to deliver a fair and balanced outcome for all stakeholders.

The company appointed Trussbridge Advisory and PwC Middle East as financial experts. Hadef & Partners and Cleary Gottlieb Steen and Hamilton will advise on the legal aspects of any agreements, which will be worked out under the supervision of the Financial Restructuring Committee (FRC).

The FRC is a body set up in 2018 under the UAE’s bankruptcy law whose members include representatives from the Ministry of Finance, the Ministry of Economy, the Ministry of Justice, the Central Bank of the UAE, the Securities and Commodities Authority, and the Governments of Abu Dhabi, Dubai and Sharjah.

Dissolution or liquidation 'likely' options for NMC Health

BR Shetty and two other directors resign from NMC Health

NMC Health vice chairman Khalifa Al Muhairi resigns

“In light of the current market conditions, we believe the appointment of a team of restructuring advisors and experts is a critical step to facilitate the financial restructuring of the group’s operating companies in a timely and efficient manner,” KBBO chairman Khalifa Bin Butti Al Muhairi said.

Mr Al Muhairi stepped down as vice chairman of NMC Health in February this year.

"The group’s underlying assets remain strong and I am confident that this process will mean the business can return to growth in the near future," Mr Al Muhairi said. "It is our intention to reach a fair and balanced outcome for all stakeholders."

[silverstone1] 05/7/2020 06:34

YOU HEARD IT FROM ME FIRST AT £18 IN DECEMBER 2019 AND I MADE A KILLING!😂