Jon Adgemis faces $1.8 billion debt showdown as bankruptcy hearing looms

Embattled pub baron Jon Adgemis is facing a $1.8 billion reckoning after bankruptcy trustees Scott Pascoe and Benjamin Ho of WLP Restructuring increased their estimate of his personal liabilities, alleging millions were wrongly funnelled into his accounts and luxury assets. The bankruptcy trustees have recommended creditors accept Adgemis’ personal insolvency agreement proposal, which will see creditors paid 1.5c for every $10 owed.

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