Sydney pub baron Jon Adgemis defends $9m transactions amid insolvency claims

Sydney pub mogul Jon Adgemis is disputing findings by administrators from BDO that he withdrew $9 million from his struggling hospitality business, arguing that the transactions were intended to support the company. The administrators are recommending that the business be liquidated, while Mr Adgemis has put forth a DOCA proposal to repay certain creditors. More from the Greek Herald.

The dispute comes at a time when ASIC has been cracking down on directors for failing to assist liquidators in the wake of company collapses. More from MPA Mag.