Adgemis’ Bondi auction looms as Deutsche, Gemi try to muster a deal

Some of Public Hospitality Group’s largest lenders including Deutsche Bank and Gemi Investments, are battling to keep smaller creditors on board and stop a fire sale of parts of Jon Adgemis’ empire as they negotiate a refinancing deal.

But Deutsche has been unable to prevent Angas Securities from taking control of one of Mr Adgemis’ properties in Bondi last week, while another pub put up for sale last week, the Empire Hotel in Sydney’s Annandale, may be withdrawn from the market.