Lobster Cave owner Bill Ferg faces nearly $1 million bankruptcy claim

·

Owner of Melbourne’s renowned Lobster Cave restaurant, Vasilios Fergadiotis, widely known as Bill Ferg, is facing a bankruptcy claim of nearly $1 million related to the acquisition of a former business.

This action, initiated in the Federal Court, signifies a serious escalation in the financial difficulties of Ferg, who has operated The Lobster Cave in Beaumaris for nearly 40 years.

Ferg’s challenges have already resulted in multiple companies under his management collapsing into insolvency. His personal assets have thus far been shielded from these troubles, as the corporate structure provides protection for a director’s personal holdings, assuming there has been no breach of duties.

However, Former Green Earth Industries director Jesus (Harvey) Jimenez is pursuing Ferg’s personal assets as he seeks $930,000 he claims he is owed from the sale of a dairy and vegetable wholesaler to the hospitality veteran.

If Ferg is declared bankrupt, he will be forced to step down as director from his various companies, and hand over his shares.

Source: Herald Sun.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Repossession notices appear on Adgemis family home in Rose Bay

A Rose Bay home co-owned by Jon Adgemis and his mother has been repossessed and is being prepared for sale.

Adelaide United appoints Theo Tsiounis as A-League Women’s Head Coach

Adelaide United has announced the appointment of Theo Tsiounis as Head Coach of its A-League Women’s side on a two-year, full-time deal.

Greece crushes France to secure quarterfinal spot at World Aquatics

Greece has stormed into the quarterfinals of the World Aquatics Championships after a dominant 23–9 win over France, despite a shaky start.

UN confirms more Cyprus talks as disagreements persist

The second expanded meeting on the Cyprus problem concluded in New York with limited progress and plans for further talks.

Review: A Cretan culinary journey with Peter Conistis at Ammos, Brighton-Le-Sands

To mark the first anniversary of Ammos at Brighton-Le-Sands, Sydney, Peter Conistis launched his much-anticipated regional dinner series.

You May Also Like

Georgegina Poulos: “I want to be a role model for young women”

A Global Director People at T2 Tea, Georgegina Poulos speaks to The Greek Herald about her career and her passion to inspire young women.

Greek Orthodox Archdiocese confirms All Saints Grammar gym to be pop-up vaccination centre

Greek Orthodox Archdiocese of Australia confirms All Saints Grammar gym in Belmore to be pop-up vaccination centre.

Alleged fraudster Bill Papas makes legal bid to suppress former lawyer’s evidence

Bill Papas has made a legal bid in the Federal Court to block potentially sensitive details being revealed by his former lawyer.