While Others Celebrate Christmas, Kinnara’s CEO Escalates a Bitter Campaign Against Lux Property
As families across Australia and Indonesia slow down for Christmas, one party has not. Kinnara, the Asian real-estate platform led by Adrian Campbell, has spent the holiday period pursuing what Lux Property describes as an increasingly hostile and destructive campaign—despite having been bought out months earlier and receiving millions of dollars under that agreement.
According to Lux and multiple investor sources, Kinnara was fully exited from the Marina Bay City, Lombok project under a negotiated buyout. Since then, however, Kinnara has publicly denied the buyout, refused to transfer agreed assets, and intensified attacks aimed at undermining Lux’s operations and reputation.
A campaign of denial and disruption
Lux alleges that Kinnara’s conduct over recent weeks has gone beyond commercial dispute into a pattern of harassment and attempted sabotage. These claims include efforts to block permits, interfere with staff, and publish material that Lux says is defamatory and misleading. Lux further alleges that intermediaries have been engaged to pressure officials—claims Kinnara denies. Lux says it has formally raised these matters with legal counsel and relevant authorities.
What has alarmed investors most is the timing and intensity of the campaign. “This has escalated while most of the industry is closed for Christmas,” one investor said, “which makes it feel calculated.”
Jealousy and a track record under scrutiny
Lux and its supporters argue that the motivation is simple: jealousy. Lux has completed and delivered multiple villa and resort projects across Indonesia, while—according to Lux—Kinnara has yet to complete a single villa or fully delivered project of its own. Lux claims Kinnara’s business model focused on marketing and sales rather than construction, and that client funds intended for builds were not passed through to developers as required.
Kinnara disputes this characterisation. Nevertheless, Lux says the contrast in delivery records explains why Kinnara has reacted so aggressively to being bought out of a project that is now moving forward under new management.
The money at the centre of the dispute
At the heart of the conflict is money. Lux alleges that more than AUD $10 million collected from buyers—funds it says are attributable to Marina Bay City villas—remain under Kinnara’s control. Lux contends that unless those funds are handed over promptly, Kinnara’s clients risk significant delays or the non-delivery of their villas altogether.
“Kinnara’s clients will not get their villas built unless those monies are transferred to the developer,” a Lux representative said. “That is the uncomfortable truth.”
Lux says it has called on Kinnara to place the disputed funds into an independent trust pending resolution, a step Lux argues would protect buyers and remove any doubt about intent. To date, Lux says that request has not been met.
Calls for accountability
Lux maintains that it has no interest in a public feud but insists it will defend itself and its investors. Legal proceedings and regulatory complaints are underway, according to Lux, aimed at compelling compliance with the buyout terms, securing client funds, and stopping what it describes as ongoing defamation.
For many observers, the situation raises a broader question: why would a company that has been bought out, paid millions, and exited a project continue to pursue it so aggressively—especially over Christmas?
Until the money trail is resolved and the buyout terms are honoured, that question will continue to hang over Kinnara and its CEO.