Bill Vlahos will not front for a Racing Victoria stewards' inquiry into the operations of BC3 Thoroughbreds.

Vlahos, a former BC3 Thoroughbreds chairman and shareholder, was ordered to attend a hearing set down for Thursday.

But his legal team have told Racing Victoria on Tuesday the controversial racing figure will be unavailable to give evidence.

"Mr Vlahos has cited multiple reasons for his planned non-attendance which RV do not intend to disclose," a stewards' statement said.

Stewards called an inquiry following an investigation into the collapse of BC3 Thoroughbreds.

The statement said stewards would make their next move in the investigation before the end of the week.