In a letter sent to the London Court, the Board of Directors of the "NMC Health" confirmed that they did not reach an agreement with the creditors that protects the company from executing the legal guardianship of it, despite the efforts made by the Board of Directors to achieve an agreement that brings together all the creditors and obtain their support during The next stage. It has become clear that the company will not be able to resist the pressures it seeks to push towards legal guardianship.
Faisal Belhoul, CEO of NMC Health Group, said in a statement: "Unfortunately, things seem to be moving towards putting the company under guardianship, and this trend is unavoidable, and if this possibility becomes a reality for us all, we should work to move to this stage quickly." Without delaying any procedures and at the same time ensuring that the company is stable and able to provide vital health care to people and support the efforts of the government and the UAE during the crisis (Covid-19).
He added: "The executive management of the company must also be maintained to ensure a rapid response to the changes of events, especially at the current time when we need all efforts in the health services sector. And to enable our medical cadres and experts in the front lines to obtain the necessary resources and full support in their work."
He continued: "In light of this decision, banks and creditors supervising guardianship should commit to providing credit facilities and ensure that the company has the necessary liquidity to continue its health care operations, and fulfill its commitment to support the salaries of thousands of health care workers during this period."