Jon Adgemis’ pub empire under fire as $1.29b assets vanish amid tax office probe

The liquidation of Jon Adgemis’ Public Hospitality Operating Co has exposed a $123 million tax debt and missing records tied to assets once valued at $1.29 billion, with liquidator Tim Cook of Balance Insolvency citing poor financial control, suspected insolvent trading, and statutory noncompliance—part of a broader $1.8 billion debt picture as lenders seize pubs and regulators probe alleged GST fraud.

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