Abu Dhabi Commercial Bank (ADCB), which lent £800mln to the private hospital operator, applied to the High Court for the appointment of administrators earlier this month.
NMC said on Monday it was talking to ADCB and other creditors about making “material changes” to its corporate governance and the composition of the board, in order to have the application withdrawn.
Last week the board appointed UAE-based Faisal Belhoul as executive chairman after Mark Tompkins stepped down, weeks after chief financial officer Prasanth Shenoy resigned with immediate effect.
In February NMC sacked chief executive Prasanth Manghat and suspended an unidentified member of the treasury team after an independent review uncovered “potential discrepancies and inconsistencies” in bank statements, together with supply chain financing arrangements that had not been approved by the board.
The company, which was part of the FTSE 100 but was demoted recently due to the undergoing investigations, admitted last month that its debt was US$1.6bn higher than previously thought.
It has 75 debt facilities from over 80 financial institutions, totalling US$6.6bn.
Shares were suspended at the time of demotion.