IslamicFinance.de

Healthcare company NMC Health failed to reach agreement with its creditors. Its major lender, Abu Dhabi Commercial Bank (ADCB) has filed an application in the UK's High Court requesting the company be placed into administration. ADCB’s exposure to NMC amounts to around $981m. US short seller Muddy Waters raised questions about the company’s true level of debt in December. In February the stock was suspended after the investigation turned up inconsistencies in its finances and the UK’s Financial Conduct Authority opened an investigation into the business.