IslamicFinance.de

Richard Fleming, Mark Firmin and Ben Cairns of Alvarez & Marsal Europe have been appointed joint administrators of Abu Dhabi-based NMC Health. In February the company uncovered $335m (£258m) in previously undisclosed loans to related parties, and a further investigation by PwC unearthed over $2.7bn (£2bn) in undisclosed debt. The administrators have replaced the NMC board, stating that an immediate priority is to implement corporate governance changes in the group. In February, the Financial Conduct Authority launched an investigation into NMC's activities after the company's shares were suspended from trading on the London Stock Exchange.