Beleaguered publican Jon Adgemis’ plan to avoid bankruptcy is in tatters after the trustee overseeing his assets was forced by a regulator to adjourn a meeting to decide whether he should be made bankrupt over his $1.8 billion debt pile.
In a letter to WLP Restructuring, the Australian Financial Security Authority said it was not satisfied with the investigation into Adgemis’ assets and called for a vote on a deal with creditors to be halted.
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