Jon Adgemis’ lenders split over popular Sydney pub

·

One of Jon Adgemis‘ struggling Sydney pubs has turned into a contentious battleground for his frustrated lenders following the collapse of his hospitality empire into administration.

Adgemis’ Public Hospitality Group (PHG) lost control of the Camelia Grove Hotel in Alexandria and four other venues after American private investor Muzinich & Co backed out of a deal to refinance the company’s significant debt.

Currently, two of Adgemis’ lenders are in dispute over the pub’s future, with a literal fence erected by one group of administrators before the NSW Supreme Court ordered its removal.

When Adgemis’ businesses entered administration in September, he owned both the Camelia Grove Hotel and the adjacent property that included its beer garden and bottle shop. These two properties were financed by different lenders, leading to BDO in Australia being appointed as administrators for Adgemis’ hospitality group and the pub, while Hall Chadwick was designated for the adjacent property.

The notice of possession affixed to the terrace property. Photo: The Daily Telegraph.

Earlier this week, BDO in Australia initiated urgent legal action in the NSW Supreme Court to prevent administrators and lenders from obstructing access to the terrace, which encompasses the beer garden and bottle shop. This action followed the fencing off of the property and the posting of a notice of possession.

Justice Ashley Black ordered the defendants—receivers Richard Albarran and Kathleen Vouris, along with 152 Henderson Street Pty Ltd—to refrain from taking possession of or recovering the terrace until a final hearing.

They were also instructed to provide keys to the administrators of the Camelia Grove Hotel for the terrace locks and to dismantle the notices of possession and wire fencing set up between the bottle shop and the hotel.

Source: The Daily Telegraph.

Cretan Convention - Web Banner

Advertisement

Share:

KEEP UP TO DATE WITH TGH

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

Advertisement

Latest News

Dr Christos Theologos: ‘Dance keeps us bound to our roots, from Chios to Sydney’

As part of the Zeibekiko Festival Australia, respected folklorist Dr Christos Theologos will lead a series of lectures and workshops.

South Melbourne turns to supporters ahead of Australian Championship kick-off

The opening clash of the Australian Championship will be an event shaped by the voices of the fans themselves.

Low birth rates and ageing: The silent enemy of the Greek nation

From the late 1990s it had become clear to Greek demographers and social scientists that the number of births in Greece was falling.

Peta Trimis: The new star of Australian football with a Hellenic soul

At just 19 years old, Peta Trimis is already being hailed as one of the brightest young stars of Australian football.

A second chance at life: Angelo Alateras’ journey from mechanical heart to transplant hope

After years on life support, 80kgs lost, and 615 days of physio, Angelo finally received the gift of a new heart.

You May Also Like

Greek aged care homes in Australia named finalists in Excellence Awards

The Aged & Community Care Providers Association has announced the finalists in its Excellence Awards and Greek aged care homes made the list.

Veronica Papacosta hails Australian public for supporting local seafood produce

Seafood Industry Australia (SIA) have hailed the Australian public for supporting domestic seafood produce following import tariffs imposed by China. Releasing December's sales data,...

How Greeks around Australia can celebrate Epiphany in 2024

Do you know where you can celebrate Epiphany Day this year around Australia? The Greek Herald has you sorted. Read more here.