Jon Adgemis insolvency vote delayed amid regulator concerns

Bankruptcy trustees have adjourned a meeting to vote on Jon Adgemis’ proposed personal insolvency agreement after AFSA intervened, reportedly warning the trustees that they risked fines of $39,600 or up to two years in jail for failing to conduct adequate investigations or meet communication standards, with AFSA’s inspector-general Neville Matthew saying the trustees’ handling “necessitates the Inspector-General taking further steps to maintain the integrity of the personal insolvency system,” adding they failed to confirm whether Adgemis made false declarations, properly examined his funding of litigation, or detailed security over family contributions.

More from the Greek Herald.