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NMC Health PLC

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  • Monday, 16 May, 2022
    Ernst & Young
    EY accused of basic failings in $2.7bn claim over NMC collapse

    Abu Dhabi hospital group’s administrator alleges litany of errors at Big Four auditor

  • Friday, 29 April, 2022
    Ernst & Young
    EY faces $2.5bn lawsuit over NMC Health audits

    Hospital group collapsed in 2020 after revealing more than $4bn in previously undisclosed debt

  • Monday, 21 March, 2022
    NMC sells stake in Saudi medical group as it prepares to exit administration

    Former FTSE hospital operator collapsed in 2020 after disclosing more than $4bn in debts

  • Thursday, 22 July, 2021
    NMC Health founder accuses banks, auditor and former chief of six-year fraud

    Lawyers for Indian-born tycoon BR Shetty claim he had been victim of ‘debt-fuelled Ponzi scheme’

  • Wednesday, 28 April, 2021
    FT CollectionsGreensill Capital
    The tiny audit firm that signs off Sanjeev Gupta’s empire

    Based over a row of shops, King & King audits more than 60 of the steel magnate’s companies

  • Friday, 5 March, 2021
    FT CollectionsGreensill Capital
    The unravelling of Lex Greensill: a mix of bravado and financial alchemy

    The potential collapse of the financial group could put many small businesses and thousands of jobs at risk

  • Sunday, 14 February, 2021
    Bank wins freezing order against NMC Health owners and executives

    Abu Dhabi Commercial Bank has exposure of more than $1bn to collapsed healthcare group

  • Friday, 6 November, 2020
    EY faces £1bn lawsuit over audit work for NMC Health

    Collapsed healthcare group’s administrators prepare to sue Big Four firm for negligence

  • Sunday, 27 September, 2020
    Health Care
    NMC placed into administration in UAE

    Hospital group wards off debt-claim enforcement to allow it to remain open as virus surges in Gulf

  • Monday, 10 August, 2020
    LexFinancial fraud
    NMC/fake invoices: fraud fret Premium content

    Recessions tend to do a good job of uncovering scams

  • Monday, 10 August, 2020
    False invoices at centre of new NMC probe

    Forged documents relating to purported medicine sales claimed to underpin fraudulent debt raising

  • Thursday, 23 July, 2020
    Dubai court freezes NMC founder Shetty’s assets

    Injunction follows latest creditor move to recover funds from collapsed hospital operator

  • Thursday, 16 July, 2020
    EY warned NMC Health over bank account inconsistencies

    Auditors found that debt owed by founder BR Shetty was wrongly assigned to the hospital operator

  • Monday, 8 June, 2020
    News in-depthAccountancy
    EY fights fires on three audit cases that threaten its global reputation

    Accountant’s role with Dubai gold company, NMC Health and Wirecard put its controls under scrutiny

  • Tuesday, 19 May, 2020
    Indian court freezes assets of NMC Health founder

    Bank of Baroda seeks to recover $250m after collapse of UAE’s largest healthcare provider

  • Wednesday, 6 May, 2020
    Explainer
    NMC Health collapse leaves battle lines drawn

    Scandal at former FTSE 100 company has damaged reputations of London and the UAE

  • Monday, 4 May, 2020
    Watchdog investigates EY audit of NMC Health

    Accountancy firm dragged into FRC’s probe of healthcare chain’s financial statements

  • Monday, 4 May, 2020
    FT CollectionsGreensill Capital
    SoftBank-backed Greensill suffers raft of client defaults

    London-based group arranged financing for NMC Health, BrightHouse and Agritrade

  • Wednesday, 29 April, 2020
    NMC founder blames executives for suspected fraud

    Indian entrepreneur claims a small group of executives were involved at the hospital group

  • Friday, 17 April, 2020
    Special ReportConsulting in Emerging Markets
    NMC scandal proves a boon for global advisers

    The UAE-based healthcare group’s troubles have amplified concerns about local regulators

  • Wednesday, 15 April, 2020
    NMC creditor files criminal complaint

    Various managers and shareholders accused of fraud and forgery

  • Wednesday, 15 April, 2020
    NMC default sparked February sell-off 

    Repayment demand exacerbated pressure on healthcare group weeks before it was placed in administration

  • Tuesday, 14 April, 2020
    LombardJonathan Ford
    Ailing NMC kept alive during Covid crisis but scandal needs resolving 

    Lenders keep UAE hospital group on life support; Mondi uses free pass from shareholders to pull dividend

  • Monday, 13 April, 2020
    NMC administrators seek to assure UAE medical staff

    Hospitals run by the former FTSE 100 company are tackling the coronavirus outbreak

  • Thursday, 9 April, 2020
    NMC Health goes into administration

    Judge says ‘something had gone very wrong’ with oversight at former FTSE 100 group    

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