Sydney pub baron Jon Adgemis has been declared bankrupt owing more than $1.8bn to suppliers and creditors. Mr Adgemis filed a petition to seek bankruptcy on Thursday, but this was rejected by the Federal Court with the date set back to 18 November 2024 at a hearing on Friday. While Mr Adgemis sought to go…
Corporate insolvencies down in 2025 as rate of company led closures falls 22% Business Post Read the original article here
Want to get this in your inbox at lunchtime every weekday? Financial Review subscribers can sign up for The Brief newsletter here. Plus start your day with our Before the Bell newsletter and read a full wrap of the day’s news in Market Wrap. In today’s news, publican Jon Adgemis declares bankruptcy, IFM Investors is…
UPDATE: Pitcher Partners executive director Andrew Yeo has been appointed as trustee of the bankrupt estate of Jon Adgemis by order of the Federal Court. Yeo and his staff will now commence detailed investigations in relation to the bankrupt estate, including a review of any investigations already undertaken by the controlling trustees, an interview of…
Pub owner’s huge call over $1.8bn debt The Australian Read the original article here
Either the URL is incorrect, there’s a technical issue, or the page is no longer available. If you believe that this is a technical error, please contact us and tell us the location of this page. Read the original article here
Embattled Sydney pub baron Jon Adgemis may still face a public grilling over his $1.8 billion failure when liquidators question him in court about what went wrong, despite the shock move to bankrupt himself on Thursday. Adgemis filed for bankruptcy owing more than $1.8 billion, avoiding a showdown with the Australian Taxation Office in the…
The BBC approached Mr and Mrs Scarborough and BRI for a comment, but neither responded to the claims about Butterwick stores trading after filing for liquidation. A spokesperson for BRI explained that a government department usually steps in to pay employees who are made redundant due to insolvency. “We can confirm that amounts due for…
Sydney entrepreneur declares bankruptcy after owing $1.8 billion Sky News Australia Read the original article here
Summary Household and business borrowers continue to display a high level of resilience overall, with many well placed to weather a downturn should it occur. It is important that lending standards remain sound so that this resilience is not undermined. Cash flow pressures eased a little over the past year as inflation…