Swimmer Nick D'Arcy has risked losing his passport and killing off his chances of heading to the London Olympics by declaring himself bankrupt.
D'Arcy has reportedly filed for bankruptcy which would allow him to avoid paying a $180,000 damages bill for assaulting fellow swimmer Simon Cowley.
But, in doing so, he may have ruled himself out of selection for next year's London Games.
The federal government agency, Insolvency Trustee Services Australia, states that during a period of bankruptcy if an individual wishes to travel they must obtain the written permission of the trustee administering their estate who may impose conditions of travel.
Insolvency Trustee Services Australia states that in this situation, "you may have to surrender your passport to your trustee".
The court-appointed trustee will decide whether D'Arcy can travel overseas.
D'Arcy, 24, was kicked out of the Australian team for the Beijing Olympics in 2008 after he assaulted Cowley in a Sydney bar on the night he was selected for the Games.
He is currently the best 200m butterfly swimmer in Australia and is likely to be selected for the London team.
The Australian Olympic Committee has no rules preventing a bankrupt athlete from being selected.
The AOC's team executive, consisting of chef de mission Nick Green, secretary-general Craig Phillips and former swimmer Chris Fydler, is due to meet later on Wednesday to discuss D'Arcy's latest development.
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