Former KPMG dealmaker turned hospitality investor, Jon Adgemis, is being sued by Richard Gazal, the late Joe Gazal’s son, for alleged debts, according to The Australian Financial Review.
This case is the latest in a series of legal cases against Adgemis, as his Public Hospitality Group owns around 20 hotels and has been beset by significant debt and cash flow issues.
“This is a commercial matter which is close to being resolved,” Adgemis told the Australian Financial Review on Friday about the latest legal case.
Legal issues are nothing new to Adgemis. The private investment vehicle of billionaire Bruce Gordon filed a lawsuit against Adgemis’ company in 2021, claiming he was due more than $6.4 million.
In 2020, Adgemis was also sued by the Chinese-owned firm Aqualand Developments for a debt exceeding $9 million. Since then, however, both situations have been resolved.
The next hearing in the NSW Supreme Court concerning Gazal’s lawsuit against Adgemis is scheduled for February 2024.
Adgemis has made no further comment on the upcoming case.
Source: The Australian Financial Review