Abu Dhabi's NMC Health Seeks Ch. 15 To Shield US Assets

Law360 (May 29, 2020, 10:31 AM EDT) -- Already facing international probes of some $4.5 billion in undisclosed debt, "aggressive" global creditor litigation and insolvency action in the United Kingdom, Abu Dhabi-based private health care provider NMC Health PLC sought protection for its U.S. affiliates in Delaware's bankruptcy court late Thursday.

In an initial Delaware court declaration, administrators for the U.K. proceedings said Delaware Chapter 15 recognition of the overseas insolvency case would allow a value-preserving stay of collection and enforcement actions in the U.S., including investor suits in California.

The "foreign main" bankruptcy action also would support discovery efforts underway in the U.K. insolvency proceedings, launched in early...

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?
Beta
Ask a question!