A last-ditch attempt from bankrupt dealmaker Jon Adgemis to claw back part of his collapsed pub empire has fallen apart after the businessman missed a deadline to pay $6.7 million to buy back five hotels.

Adgemis had been attempting to buy back the pubs which were put under receivership in September. At the time, New York lender Muzinich & Co called in insolvency specialists FTI Consulting as receivers for Oxford House, The Exchange in Darlinghurst, The Norfolk, The Strand Hotel and Camelia Grove Hotel, all in Sydney. BDO was appointed administrator of Public Lifestyle Management, the operating company behind the assets.

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The Competition Commission of India (CCI) has granted in-principle approval to mining conglomerate Vedanta Ltd’s proposal to acquire Jaiprakash Associates Ltd (JAL), which is currently undergoing insolvency proceedings.
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Fair trade regulator CCI on Tuesday said it has given in-principle approval to mining conglomerate Vedanta’s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.

Apart from Vedanta, the proposals of Naveen Jindal-led Jindal Power, PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.

“The proposed combination…

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