Regional news: United Arab Emirates

Abu Dhabi-based NMC Healthcare secures interim English protection

The administrators of NMC Healthcare in Abu Dhabi’s financial free zone have obtained interim protection in the UK, blocking creditors from attaching sale proceeds they plan to place in a London bank account.

09 April 2021

Community roundup: Shearman & Sterling, Kroll, FTI Consulting and EY

Shearman & Sterling has continued its London expansion while FTI Consulting has strengthened its Madrid and Abu Dhabi offices, Kroll has promoted four new managing directors in the UK, and EY has hired in Bermuda.

01 April 2021

UAE’s Arabtec reveals details of its Dubai bankruptcy

Nearly four months after shareholders resolved it should enter insolvent liquidation, the Middle East's largest contractor has provided information on its bankruptcy proceedings in Dubai.

22 March 2021

Abraaj fund manager denied liquidators’ documents in Cayman Islands

An investment manager that operated within UAE private equity group Abraaj has failed to obtain documents from the Cayman liquidators of an Abraaj subsidiary, after a court blocked it from bringing litigation due to third-party confidentiality concerns.

01 March 2021

New Middle East restructuring head for Alvarez & Marsal

Alvarez & Marsal has appointed the interim CFO of struggling hospital operator NMC Healthcare to lead its Middle East restructuring practice in Dubai.

11 February 2021

HFW hires from Clyde & Co in Dubai

HFW’s fraud and insolvency team in Dubai, which is advising the Abu Dhabi Commercial Bank in NMC Healthcare’s administration, has gained a new disputes partner from Clyde & Co.

04 January 2021

Air Berlin fails to block English Etihad litigation on appeal

Air Berlin’s administrator must face an English challenge to his €2 billion German contract breach claim against Etihad Airways, after a London appeal court ruled that EU law allowed the dispute to be heard in England under an “asymmetric” jurisdiction clause.

18 December 2020

UAE construction firm Arabtec to enter insolvent liquidation

Shareholders of the Middle East's largest contractor, Arabtec, have announced it will file for liquidation “at the earliest opportunity”, despite a small group among them making a last-ditch restructuring proposal on Monday.

01 December 2020

Borrelli Walsh appointed as Hyflux enters judicial management

After a two-and-a-half year restructuring saga, struggling Singaporean utility Hyflux has been placed into judicial management with immediate effect.

16 November 2020

Dubai court recognises NMC Healthcare administration

A court in Dubai’s financial free zone has recognised NMC Healthcare’s Abu Dhabi administration and ordered a stay on proceedings filed against the company – while the administrators have initiated a negligence action against EY in England.

11 November 2020

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