Bankrupt dealmaker Jon Adgemis has lost his bid to regain five Sydney pubs after missing a $6.7 million payment to administrators.
The payment was part of a deal to repurchase venues including Oxford House and The Norfolk, following their receivership under lender Muzinich & Co.
The missed payment triggered default notices from Deutsche Bank, automatically terminating the sale, according to liquidator BDO’s Duncan Clubb.
Adgemis, whose Public Hospitality Group collapsed under $1.8 billion in debts, was declared bankrupt earlier this month, the largest personal bankruptcy in Australian history.
Source: AFR.
