February 11, 2021 COURT OF FIRST INSTANCE - ORDERS
Claim No. CFI 079/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
PUNJAB NATIONAL BANK, DIFC BRANCH
Claimant
and
(1) NMC HEALTHCARE LLC
(2) NEW MEDICAL CENTRE TRADING LLC
(3) NMC SPECIALITY HOSPITAL LLC, DUBAI
(4) NMC SPECIALITY HOSPITAL LLC, ABU DHABI
(5) NEW MEDICAL CENTRE SPECIALITY HOSPITAL LLC, AL AIN
(6) MR. B.R. SHETTY
(7) NMC HEALTH PLC (IN ADMINISTRATION)
Defendants
CONSENT ORDER
UPON the Seventh Defendant being placed in administration by the English High Court on 9 April 2020 and Richard Fleming, Benjamin Cairns and Mark Firmin of Alvarez & Marsal Europe LLP being appointed as joint administrators (“PLC Administrators”) (“English Administration”)
UPON the First and Third Defendants filing an Acknowledgment of Service contesting jurisdiction on 25 October 2020
UPON the Second, Fourth, Fifth and Seventh Defendants filing an Acknowledgment of Service contesting jurisdiction on 31 January 2021
UPON the First, Second, Third, Fourth and Fifth Defendants being continued into the Abu Dhabi General Market (“ADGM”) as NMC Healthcare LTD, New Medical Centre Trading LTD, NMC Specialty Hospital LTD, NMC Specialty Hospital 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 the First, Second, Third, Fourth and Fifth Defendants (and others) (the "Administration Order") and Mr Benjamin Cairns and Mr Richard Fleming of Alvarez & Marsal Europe LLP being appointed joint administrators (the “ADGM Administrators”)
UPON the PLC Administrators and the ADGM Administrators filing an application for recognition of the English Administration Order and the ADGM Administration Order in the DIFC Courts on 20 October 2020 under DIFC Court Claim No CFI-090-2020 (the “Recognition Applications”)
UPON the Recognition Applications being heard before Justice Martin in the DIFC Court on 10 November 2020, and the Judge directing, inter alia, that i) The English Administration pursuant to Part II of the Insolvency Act 1986 be recognised as foreign main proceedings in accordance with the UNCITRAL Model Law on Cross-Border Insolvency as set out in Schedule 4 of the DIFC Insolvency Law No.1 of 2019; ii) The PLC Administrators be recognised as foreign representatives; iii) The [CFI-091-2020] Order, and the automatic relief (including stays) pursuant to Article 20 of the Model Law as set out in Schedule 4 of the DIFC Insolvency Law No.1 of 2019, shall take effect from 10.35am on 10 November 2020; iv) the ADGM Administrators shall be entitled to the active assistance of the DIFC Courts in carrying out their functions as administrators
UPON the action against the Seventh Defendant being automatically stayed as a result of the Court’s Order directing recognition of the English Administration in the DIFC Court on 10 November 2020
UPON the Court issuing a Consent Order on 06 December 2020 ordering a 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, Fourth and Fifth Defendants having agreed to the terms set forth herein
IT IS HEREBY ORDERED BY CONSENT THAT:
1. There will be an interim stay of these proceedings as against the Second, Fourth and Fifth Defendants.
2. The interim stay will remain in place as against the Second, Fourth and Fifth Defendants until the administration proceedings insofar as applicable to them in the ADGM are brought to an end in accordance with the provisions of the ADGM Insolvency Regulations (2015) (as in force from time to time).
3. In the event that the administration proceedings are brought to an end / the ADGM Administrators' appointment ceases to have effect / the ADGM Administrators are removed from office (in respect of the Second, Fourth and/or the Fifth Defendants), the ADGM 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 of the end of the administration or cessation of their appointment as soon as practicable.
4. Liberty to apply.
5. Costs in the case.
Issued by:
Nour Hineidi
Registrar
Date of issue: 11 February 2021
At:10am
