Former chief of collapsed Grocon building empire declares bankruptcy
Daniel Grollo, former head of the construction firm Grocon, has filed for personal bankruptcy following the collapse of his business empire. The bankruptcy follows a long-running legal dispute with the New South Wales government over the Central Barangaroo project.
Why it matters
The downfall of a major construction figure highlights the significant economic impact of failed large-scale infrastructure projects and corporate insolvency.
— 3:29pm , first published 11:33am
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Share A A A Once arguably the biggest name in Melbourne’s property and construction world, Daniel Grollo’s financial unravelling has deepened after the scion filed for bankruptcy and his luxury New York penthouse was forfeited to an American bank.
Grollo, whose corporate empire, under the Grocon banner, was placed in administration in 2020 amid a messy dispute with the NSW government, also faces the prospect of investigation from Australian liquidators.
Daniel Grollo at a parliamentary inquiry in 2022. AAP He managed to avoid liquidation of his Grocon businesses at the time, through a deal with creditors , but it emerged on Sunday that he had entered personal bankruptcy in March, having filed for bankruptcy with the Australian Financial Security Authority that month.
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