A decision on bankrupt former billionaire Eddy Groves’ bid to leave the country has been postponed.
The former childcare mogul will have to wait until Monday morning to learn whether he will be allowed.
Joshua Bristow reports.
Eddy Groves used to be one of Australia’s richest businessmen, now he can’t wait to leave.
The founder and former CEO of the failed ABC Learning Centre franchise is attempting to prove that he is not a flight risk in Brisbane’s Federal Court.
Groves wants to live in Canada and work for his wife’s proposed college – the exact nature of this college has not been described.
But Trustee’s believe that Groves may be attempting to flee his debt which equals $23 million dollars and wants half a million dollar security fund before he is allowed to leave.
Eddy Groves: “Ah no, I mean the judge has got to work through his processes. I respect that judge immensely, you know, so I’m happy for him to take his time.”
Groves will not attend the Federal Court on Monday as he is due to appear in the Supreme Court over a dispute with his ex wife and ABC co-founder, Le Neve, concerning the sales of their collapsed businesses shares.
Eddy Groves: “Yeah it will, it’ll be a weekend. Next court case on Monday for me so I’ll be going from one court to the next courthouse.”
The man, who was labeled ‘Fast Eddie’, is now a long way away from his past entrepreneurial lifestyle involving sports cars, property and ownership of the Brisbane Bullets basketball team.
Earlier in the proceedings Groves denied he was living a lavish lifestyle in Canada, stating that he had no income and no career
The case continues.
Joshua Bristow, QUT News.