The family is known for hotel developments (including the famed Art Series Hotels) as well commercial developments, residential investments and storage.
Family scion, Will Deague, who is named in the claim, was also the most high profile victim of the collapse of Sonray Capital which was founded by his Melbourne Grammar school chum Scott Murray – who was jailed over the broker’s collapse.
While best known as developers the Deague Group have also long been co-investors in other projects.
The Deague’s investment arm, Deague Capital, alleges in February this year Alvarium informed it of a development opportunity that was in the final stages of negotiation over a building contract that “should be closed out over the next week”.
The project is…