Sydney pub baron Jon Adgemis is now grappling with a staggering $1.5 billion debt, as revealed in a shocking bankruptcy report released on July 21, 2025.
Administrators have disclosed that creditors, including lenders and the Australian Taxation Office, are likely to recover only a minuscule portion of what they are owed. A proposed rescue plan offers creditors a mere 17 cents for every $1,000 owed.
In the wake of this financial collapse, a Rose Bay property co-owned by Adgemis and his mother has been repossessed, with financiers preparing to sell the six-bedroom home.
