Banking & Finance NMC Healthcare granted anti-suit injunction from Abu Dhabi court By Reuters October 6, 2022, 4:14 AM REUTERS/Satish Kumar KBBO's founder Khalifa Bin Butti Al Muhairi filed for bankruptcy through an Abu Dhabi court two years ago after NMC's collapse United Arab Emirates hospital group NMC Healthcare (NMCH) was granted an injunction from an Abu Dhabi court on Wednesday to prevent one of 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 heavy losses. Law firm Quinn Emanuel, representing NMCH, said it was granted a final, anti-suit injunction from Abu Dhabi Global Market Court against Abu Dhabi investment firm Noor Capital to prevent it from enforcing a judgment debt of AED 567.2 million ($154.44 million). The law firm said Noor was attempting to execute a judgement for AED 567.2 million against NMCH in the Dubai courts, and seeking to put itself into a better position than other unsecured creditors. Noor Capital did not immediately respond to a request for comment. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
