The decision by creditors to accept a deed of company administration proposal from Fraser Short ends a tumultuous 12 months for the former hospitality star.
Mr Short, who lives in a $9million Vaucluse mansion with his wife Allyson and their three children, earlier this year already offloaded most of his pub holdings.
All up, the businessman has cleared some $170 million selling assets in the last year. The reason why has become a well-worn subject among fellow hoteliers.