NMC creditors backing restructuring, with administration exit near ...Qatar

NMC Healthcare Ltd said it won approval from creditors for the restructuring process that allows the bulk of the hospital operator’s business to exit administration. NMC secured 95% of the eligible creditor vote for the deeds of company arrangement proposals, according to a statement from the largest private medical services provider in the United Arab Emirates. A local Abu Dhabi court still needs to confirm the vote, NMC said. It could then take as many as five months to draw a line under the process and enable 34 NMC operating entities to leave administration, it said. NMC Healthcare will remain in administration to pursue claims which, if successful, will be distributed to certain credit

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