NMC Health (NMC) announced late yesterday that it was “not in a position” to oppose successfully the court application by Abu Dhabi Commercial Bank to have the company placed into administration at today’s hearing. In other words it is game over...

We learnt yesterday that Abu Dhabi Commercial Bank (ADCB) had applied to have NMC Health (NMC) placed in administration. We now learn that the hearing is scheduled for Thursday, but it seems that the board is making a last-ditch effort to get the application withdrawn.

Hat tip to reader RT with this link, Abu Dhabi Commercial Bank (ADCB) which has a reported $981 million exposure to NMC Health (NMC) has applied to court to have NMC placed in administration, apparently to safeguard the future of the company, according to Reuters. Well, whatever – but it looks like game set and match to bear raider Muddy Waters.