NMC, the largest private healthcare provider in the UAE, was placed under administrative guardianship earlier this April after months of turmoil that followed Material Waters question its financial reports.
The trading of shares (NMC) was suspended two months ago, and the company requested on Monday to cancel the listing of its shares from the London Stock Exchange.
A source familiar with Reuters said that some Emirati banks have classified their exposure to the company's debt as being doubtful of its collection.
While another source indicated that other banks in the UAE have higher recovery expectations for their exposure, and may treat it as below the normal level.
(NMC), which borrowed from 80 local and international banks in total, last month disclosed about $ 6.6 billion in debt, which is more than 2.1 billion Dollars disclosed in June 2019.
UAE banks have said in stock disclosures during the past few weeks that they have exposed the company to more than 10 billion dirhams.
