Updated ,first published
Daniel Grollo, the former chief executive of collapsed building empire Grocon, which owed more than $100 million to creditors after his death, has declared bankruptcy.
Grollo filed for bankruptcy with the Australian Securities and Exchange Commission in March.
The construction empire, which was founded in Melbourne in 1948 and run by three generations of the Grollo family, was behind some of Melbourne’s most famous buildings, including the Eureka Tower and 101 Collins Street.
Grocon was placed into administration in December 2020, debt of about 104 million dollarswhile Grollo blamed the company’s downfall on a $270 million legal dispute with Infrastructure NSW over Central Barangaroo development in Sydney.
The Barangaroo stoush was resolved following a NSW parliamentary inquiry in 2023, according to the Australian Financial Review.
Grollo has been contacted for comment.
Aat the time of its collapse, the Australian Taxation Office was Grocon’s main creditor, owing $13.7 million in GST payments by Grocon companies.
When contacted on Sunday, a spokesperson for the Australian Taxation Office said it does not comment on private matters.
Australian Securities and Investments Commission documents show Grollo’s bankruptcy coincided with his resignation as a director of more than 100 companies.
PKF partner Brad Tonks is the bankruptcy trustee, and did not respond to a request for comment.
More to come.
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