It has been a tough year for Eddy Groves. Just when it seemed things couldn't get any worse for the embattled founder and former chief executive of ABC Learning, his estranged wife, Dr Le Neve Groves, has instructed Cooper Grace Ward in a $44.2m suit against him.
Cooper Grace Ward was formerly the Brisbane office of the Hunt & Hunt legal group, splitting from that firm in 2006. Litigation partner Rocco Russo is acting for Dr Groves. Russo, an experienced litigator who specialises in shareholder disputes, has declined comment at this point in time.
In her Supreme Court claim, Dr Groves, who co-founded ABC Learning, says that Eddy Groves was "unjustly enriched" at her expense by the sale of millions of her shares in ABC Learning Centres.
Groves, whose company lost 90% of its value at one stage, was forced to sell shares as a result of margin calls in February and March.
However, in court documents Dr Groves claims the former ABC Learning chief executive and two margin lenders were never authorised to sell her shares. Eddy Groves has chosen another Queensland firm, HopgoodGanim, for his defence. The HopgoodGanim dispute resolution team is headed by founding partner, Joe Ganim.
The HopgoodGanim team has 28 days to file its defence.