A new document filed with the corporate watchdog reveals fallen construction and development giant Grocon has more than $90 million of loans outstanding to executive chairman Daniel Grollo and his wife Katherina and entities he ultimately controls.
The revelation comes ahead of the crunch second creditor meeting later this month that will decide the fate of Grocon, with much of the company now in the hands of administrators at KordaMentha.
The latest filings with the Australian Securities and Investments Commission include a $63 million loan to Mr Grollo and his wife Katherina from a Grocon entity in administration. Combined with other loans made to Mr Grollo or to entities he ultimately owns, over $90 million has been lent to the pro…
Read the full article at: https://www.commercialrealestate.com.au/news/grocon-loans-to-daniel-grollo-top-90m-1035113/
