This Month
- Exclusive
- Commercial property finance
Jon Adgemis fails in bid to conceal bankruptcy pursuit over $26m debt
The former KPMG dealmaker turned publican had argued that revealing details of the dispute could cause the collapse of his troubled hospitality empire.
Fortescue heart-to-hearts make unionisation redundant: Forrest
Chairman Andrew Forrest reckons his staff are unlikely to unionise, as workplace reforms bring unions back into the nation’s most lucrative export industry.
- Exclusive
- Food
Cult chicken chain El Jannah says sales will push $300m this year
The popular Lebanese outlet’s chief executive is planning to nearly triple the number of stores in the next two years as it takes on major fast-food chains.
January
- Exclusive
- Commercial property finance
Merricks’ flagship credit fund goes negative after Sydney CBD pain
Documents circulated to investors in the $1.2 billion vehicle noted there were four loans performing worse than expected amid a difficult office market.
- Exclusive
- Victoria residential property
Luxury apartment in Gurner complex offered at $1.3m discount
The Saint Moritz development, popular with Melbourne’s elite, boasts a 25-metre pool and a bar. But it has also been the subject of complaints about defects.
- Exclusive
- Commercial real estate
$300m private credit fund blocks investor redemptions to preserve cash
Gemi Investments’ safest vehicle has lent about $300 million to commercial real estate projects, and backers say their money is stuck.
- Exclusive
- Managed funds
Former Lazarus broker accused of fraud, investigated by ASIC
The firm’s one-time senior dealer allegedly directed clients to pay his personal bank accounts by “amending” the Sydney company’s invoices.
- Exclusive
- Specialist investments
Private credit star Metrics is bringing cheap(er) wine to Rockpool
The founder of Metrics, one of the biggest non-bank lenders, has his hands full overhauling Rockpool – and defending the booming sector from its critics.
- Updated
- Exclusive
- Casinos
Star’s Macau mystery man is a coal magnate with a taste for luxury
Why did Xingchun Wang choose now to invest in Australia’s gambling industry? The plot thickens in casino-friendly Macau, the Chinese special administrative region where he resides.
- Breaking
- Gaming & wagering
NSW and Qld unmoved by Star’s renewed plea for tax relief
NSW Premier Chris Minns was emphatic the government would not offer respite to the struggling gaming company whose casinos are ailing.
James Packer dines with Trump, Elon Musk
New social media photos show the Australian billionaire seated with Elon Musk and the new president at dinner in Mar-a-Lago.
On the trail of Star Entertainment’s mystery Macau shareholder
Who is Xingchun Wang, and what does he want with the ailing operator of casinos in Sydney, Brisbane and the Gold Coast that is teetering on the brink of collapse?
- Exclusive
- Victoria residential property
Alex Waislitz and Tim Gurner feud over luxury St Kilda tower
The wealthy businessmen are at loggerheads over problems at the Saint Moritz development. Mr Waislitz says Mr Gurner is trying to silence residents.
- Exclusive
- Commercial Real Estate
They built a $180m office but struggling to get tenants
The vacancies in towers built on the back of private credit come amid difficult times for developers, more of which are falling into administration.
MaxCap investor groups face off over stalled Byron Bay project
The private credit firm is contemplating selling the development site in a move it has warned could mean one group of investors will end up losing its money.
- Exclusive
- Commercial property finance
MaxCap warns of real estate fund return slump and asset fire sales
The private credit firm has told investors that an “extended period of high market volatility” had hurt the viability of some of its real estate investments.
- Updated
- Exclusive
- Commercial property finance
The secretive Saunders family is going all in on lending to the rich
The late John Saunders founded Westfield with Frank Lowy. The family investment vehicle sees plenty of opportunities in helping the cash-strapped wealthy.
December 2024
Gerry Harvey reveals his biggest problem with property development
The retail billionaire and sideline property investor says costs will keep rising, and that’s bad for projects – as well as for the people who work on them.
- Updated
Investor letters reveal private credit exposure to collapsed developer
APH Holding fell into administration last week, owing several lenders significant sums. Correspondence shows how short one lender, MaxCap, is on a project.
Major developer APH collapses, sending ripples through private credit
The Melbourne company had already put many of its projects on the market. Its biggest lender, MaxCap, says it expects to be repaid in full.