NMC Carried Out $1B Fraud Through UK Unit, UAE Bank Says

By Richard Crump (December 1, 2021, 6:46 PM GMT) -- Collapsed United Arab Emirates health care group NMC Health carried out a $1 billion accounting fraud through its London-listed holding company, an Abu Dhabi bank alleged on Wednesday as it fought to keep its litigation against six ex-NMC officials in England.

Abu Dhabi Commercial Bank PJSC argued at a High Court hearing that there is a "clear and direct" link between its claim for damages stemming from an alleged "epic fraud" perpetrated by NMC Health PLC and the jurisdiction of the English courts.

The bank, one of NMC's biggest creditors, alleges that it was the victim of fraudulent misrepresentations about the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!