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Dude, shareholders are gone, the equity is now worthless... whatever shape the company may/may not come back in has no bearing on current shareholders. It’s a zero. Sorry to state the obvious but we have to understand this reality and now end all this false hope.
Yep admin means jeeero. We may after many years get 10 pence a share... if they manage to find the billions.
Sorry Mrd - i don't see anything for shareholders - the lenders will take all the value and even they will take at least an 80% haircut, I doubt there is much more than a $bn in the assets in an admin fire sale, if the true indebtedness is $6.6 bn, the outlook for all is grim - well except Shetty!.
I don't understand how the creditors think they will be better off taking NMC to adminstration rather than giving NMC the time where there is better chance of getting their more money back if NMC is a profitable business & going concern?
Mrahman - ADCB claims nmc failed to implement the changes they wanted. I don’t think they want admin but what choice do they have? They can’t trust nmc and belhoul looks to be a front for butti and maybe shetty too (given his super quick endorsement). Nmc shot themselves in the foot (or the face?) by appointing belhoul.
Mrahman - the banks have had time to consider the situation, even as a profitable going concern the business would probably not be able to service $6.6bn of debt and IMO after looking at the accounts the profits do look large for a healthcare business, as MW suggested. Maybe the banks have reports which also suggest this?
Bank's are not equipped to run businesses, they just want as much back as possible and to move on.
The banks believe they have more of a chance to figure out wer the billions went!
I think they knew belhoul would not chase up the butti bros im sure they all siphoned of $1.5 billion each.
ADCB rumoured to be appointing Alvarez & Marsal as they administrators tomorrow. For those that don’t know these guys got the Lehman Brothers contract and received nearly $500 million in fees for their work... they come at the top of the payee list on any windup on NMC...
Rastuss go F urself. You want us now to be greatful for fraud. Ffs. You are scum
Limited liability ffs. If they didnt why would anyone buy shares stupid fool.
Mrd if you want to project your anger at someone I think Shetty and his co-conspirators are better than Rastuss, he is just giving his opinion. He has a point if we weren't in a limited company the shareholders would be responsible for the $6.6bn debt as well as losing all the value in the shares.
Rstuss, you are an idiot
'Shareholders in this should really be grateful'
what a thing to say ! Unbelievable :-(
Rastuss is technically correct, but yes it’s a rather mean statement to make at this time when so many people are hurting. I think you make great contributions here but may I suggest it be worth just leaving out the sly comments at the end of your posts.
You fool. I didnt have enough shares to remove em....! If there was no limited liability no one would ever buy shares! We will get something somewhere along the line. These lot will be better at finding the lost billions! They will go after all of them. Like they did in the collapse of lehman brothers. Eventually we will get sent a few hundred quid.
1% recovery for shareholders. There is £2 billion worth of shares floating out there
Rastuss after seeing a 100% loss how can you expect us to see the concept of limited liability. Its like losing your entire family in an explosion and me telling you its ok at least you survived with just 1 arm missing! Fool.
Mrd - the shares only have value if the company has value, the debt means that the company is probably worth -$5bn. there is no value and whatever value is left will go first to the banks and other creditors - sorry to say it but common shareholders are at the bottom of the pile in administration.
Im saying if they find the $4.5 billion thats been siphoned off. Then their $500 million cut.
Muadabala will buy it around $2 billion with zero debts. Then theyl go after the siphoned off money. So $4.6 billion left for them to find. Thatl leave us with 0p.
Well that's a possibility, unfortunately it's unlikely from my bitter experience of administrations of UK listed companies and I have been ain many over the years. the administrators will try to get as much cash in but Shetty and his mates will have sent that money out via FIN and it will be already laundered and legitimized and impossible to trace.
Is there any possibility that the administrators after the proper investigation suggest the creditors to continue the NMC business to get better chance of their money back? Probably a new board with by major creditors?
No my friend. If they manage to recover anything itl be a paltry here you go. The suspension cost us everything. If they waited till the FCA forced it we coulda got out. Albeit around 3-400p
Mrd - I think that was just wording - the FCA forced it IMO - they did the same with FIN, said they were asking for suspension, but in reality they were told to.
FCA ****up IMO - all for an orderly market - what complete ******