February 04, 2021 court of first instance - Orders
Claim No: CFI 047/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
STATE BANK OF INDIA (DIFC BRANCH)
Claimant
and
(1) NMC HEALTHCARE LLC
(2) NMC SPECIALITY HOSPITAL LLC
(3) NEW MEDICAL CENTRE LLC
(4) NEW MEDICAL CENTRE SPECIALITY HOSPITAL AL AIN
(5) MR. BAVAGUTHU RAGHURAM SHETTY
Defendants
CONSENT ORDER
UPON the First, Second, Third and Fourth Defendants being continued into the Abu Dhabi General Market (“ADGM”) as NMC Healthcare LTD, NMC Specialty Hospital LTD, New Medical Centre LTD and New Medical Centre Specialty Hospital LTD respectively and an administration order being issued by the ADGM Courts on 27 September 2020 in relation to, inter alia, the First, Second, Third and Fourth Defendants (the "Administration Order") and Mr Benjamin Cairns and Mr Richard Fleming of Alvarez & Marsal Europe LLP being appointed joint administrators (the “Joint Administrators”)
UPON the Joint Administrators filing an application for recognition of the Administration Order in the DIFC Courts on 20 October 2020 under DIFC Court Claim No CFI-090-2020 (the “Recognition Application”)
UPON the Recognition Application being heard before Justice Martin in the DIFC Court on 10 November 2020, and the Judge directing, inter alia, that the Joint Administrators shall be entitled to the active assistance of the DIFC Courts in carrying out their functions as administrators
UPON the Court issuing an Order on 06 December 2020 ordering an interim stay of these proceedings as against the First and Third Defendants until the administration proceedings in the ADGM are brought to an end as against the First and Third Defendants in accordance with the provisions of the ADGM Insolvency Regulations (2015) (as in force from time to time).
AND UPON the Claimant and the Second and Fourth Defendants having agreed to the terms set forth
IT IS HEREBY ORDERED BY CONSENT THAT:
1. There will be an interim stay of these proceedings as against the Second and Fourth Defendants. The interim stay will remain in place as against Second and Fourth Defendants until the administration proceedings in the ADGM are brought to an end as against the Second and Fourth Defendants in accordance with the provisions of the ADGM Insolvency Regulations (2015) (as in force from time to time).
2. In the event that the administration proceedings are brought to an end / the Joint Administrators' appointment ceases to have effect / the Joint Administrators are removed from office (in respect of the Second and/or the Fourth Defendants), the Joint Administrators shall comply with the notification provisions set out in the ADGM Insolvency Regulations (2015) (as in force from time to time) and shall in any event notify the Claimant.
3. Liberty to apply.
4. Costs in the case
Issued by:
Nour Hineidi
Registrar
Date of issue: 4 February 2021
At:1.30pm
