The trustees in bankruptcy of Eddy Groves plan to investigate $42 million in Australian and international property deals undertaken by the failed childcare entrepreneur in the past five years.
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Mr Groves, who founded childcare group ABC Learning, is also likely to face a grilling before a court about his affairs at an examination run by the trustees.
Mark Robinson and Andrew Scott of PPB Advisory said they will look into $17 million of properties sold in Australia, $5 million of property sold overseas and $20 million sold by a trust associated with Mr Groves.
The trustees have issued their first report to creditors of Mr Groves, who was declared bankrupt by the Federal Court in Adelaide on January 29 owing $23 million.
Mr Robinson said Mr Groves’ affairs were ‘‘being scrutinised under the bankruptcy microscope’’.
‘‘His affairs involve a large number of companies, trusts and property transactions around the world,’’ he said.
‘‘Our immediate focus is completing our initial investigations into the property transactions identified, and taking immediate action to recover any assets where appropriate.’’
‘‘At this stage it is likely we will seek to examine Mr Groves and other associated persons in court.’’
At his peak, Mr Groves was estimated to be worth close to $300 million.
ABC Learning collapsed in 2008 with debts of more than $1 billion.
