NMC Healthcare granted anti-suit injunction from Abu Dhabi court, says law firm

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.



File photo
File photo

By Reuters

Published: Wed 5 Oct 2022, 8:05 PM

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 Dh567.2 million ($154.44 million).

The law firm said Noor was attempting to execute a judgement for 567.2 million dirhams 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.

business@khaleejtimes.com


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