Finablr has appointed law firm Skadden to help investigate potential wrongdoing and theft within the payments group as it seeks answers about £1bn of undisclosed debt discovered on its balance sheet earlier this year.
UAE-based Finablr is part of the business empire of BR Shetty, who floated the group in London last year at a valuation of about £1.2bn. He has remained co-chairman and a major shareholder.
Mr Shetty also founded NMC, the healthcare group now in administration after an internal accounting scandal involving more than $4bn of hidden debt.
‘Enforcement 40’ for 2020
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