Embattled listed vocational education provider Australian Careers Network faces the termination of its financial agreements with the Victorian government despite receiving a "breather" from the state education department in recent days.   
Fairfax Media understands the Victorian Department of Education is considering terminating its contracts with all Australian Careers Network subsidiaries pending further reviews - a move Australian Careers Network says, in court documents obtained by Fairfax Media, will "destroy" its business.
Separately, it can be revealed Australian Careers Network subsidiary Consider This Training has been the subject of complaints to the Australian Skills Quality Authority in the past week and will now be subject to a federal review. 
The federal regulator's review of Consider This Training is a blow to Australian Careers Network, which is locked in a separate court battle with the Department of Education regarding its decision to pull funding for Consider This Training.
Students have also made formal complaints about Smart Connection Training to the Department of Education, the court documents reveal.
A spokesman for Australian Careers Network said it was "business as usual" for the company and its subsidiaries Smart, Heron Assess, and Centre of Vocational Education  (COVE) were all "operating normally" and the matter had been "resolved".
He declined to answer questions about the department terminating funding or reviews into the company's compliance.
A department spokesman said: "There is currently serious matters involving Australian Careers Network registered training organisations before the court and it would inappropriate to comment further."
Australian Careers Network, a roll-up of several private colleges, ran afoul of regulators after revelations of improper enrolment practices, poor compliance and governance at three of its subsidiaries: Phoenix Institute, Australian Management Academy and Consider This Training.
Australian Management Academy's funding termination notice shows the college received funding for students who did not exist, employed trainers who were not competent and had put students into courses that were not suitable for their needs.
Australian Careers Network's shares are suspended from trading as the company works through its regulatory and funding issues. Its shares last traded at $3.43.
The company won an injunction against the Victorian government cutting its funding in late   October to three of its colleges: Heron, COVE and Smart.
Australian Careers Network chief executive Ivan Brown said losing funding would be "disastrous", according to court documents.
"If VET [vocational education and training] funding ceases, a business with a valuation ... at $135 million will be destroyed."
Mr Brown's affidavit requesting the injunction shows the Department of Education has taken a dim view of the entire group after the troubles within its subsidiaries, and believes Australian Careers Network and its subsidiaries are operating as one entity.