Where to Start - Voting the Capable and Inept Builders in Australia..?
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The Insolvent, Accused, and the end of Property CorporationToplace's Billion-Dollar Empire
from July 2023
A Fugitive building consultant {was deeply involved with acquiring his insolvent business a very moneymaking construction contract|played a pivotal function in his insolvency corporation a highly lucrative job â oversight of the dissolution of Defendant Jean Nassif's corporate empire, which drowned under liabilities in excess of $1.24 billion, including $88.5 million payable to suppliers and onsite builders.
New disclosures about the failure of Nassif's Toplace group of compaines have come out in documents given to the Federal Court this recently by bankruptcy managers from dVT Group. These documents uncover that secured creditors, such as banks with mortgages on Toplace properties and offshore lenders in tax havens like the British Virgin Islands, are owed one thousand million.
Additional Applicatory Information:
Riad Tayeh, and Toplace's Skyview construction in Castle Hill.
Unsecured creditors, have filed claims with a total estimated quarter of a billion.
Federal Court filed claims also indicate that Riad Tayeh, business founder of dVT Group of companies, which was involved in a central role in assuring his firm's appointment as bankruptcy managers. In spite of being proclaimed financially bankrupt in June last year with $5.4 million in debt, Tayeh, now a business consultant, and partner Antony Resnick attended important business meetings with Toplace top managers in the period before the firm's appointment as bankruptcy managers.
Included in those attending the meetings on May 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose Certificate to practice Law has been suspended while she fights charges relating to fraud tied to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was charged bankrupt in May 2022.
Just days before the meetings, a warrant was issued for the arrest of Jean Nassif, 55, who fled Sydney for Dubai in November 2022. Jean and Ashlyn Nassif are accused of falsifying contracts to secure a $150 million loan from Westpac.
In July, Resnick and fellow dVT partner Suelen McCallum were made voluntary bankruptcy administrators for Toplace. by Jean Nassif, Toplace's sole director, via email just hours prior. The administrators now face the task of handling one of New South Wales' largest corporate bankruptcy's.
With reference to Toplace's website, Jean Nassif's company has delivered around 30,000 residential units, shopping centers, and commercial properties throughout Sydney. Despite this, several owners' corporations have filed claims amounting to nearly $124 million to address serious defects in Toplace's buildings.
Further complicating the administrators' task a staff member suggested there may be another $400 million in loans involving Nassif entities that are not yet under administration. adding that Toplace's financial books had not been properly updated since 2021.
Treachery the Otherside of Connecting Wall: A Builders Calamitous Effect on Our Peaceful Sanctuary
In the heart of Lawrence street Melbourne we had renovated our gorgeous refuge of greater than 20 years, a concealed garden amidst the chaos of the city streets. For over 20 years, it was a gorgeous place of solacement, a oasis of beauty and safety.
As an honoured architect, my friend had graced our city with numerous urban design proposals, but of these none were more personal that the innovative design of the Lawrence Street, Alexandria, Victorian style conversion. Conspicuously in the Sydney Morning Herald, it was applauded as a creative masterpiece, weaving old-world appeal with modern-day elegance.
The Victorian conversion was a testament to architectural creativityâa two-story addition and renovations to a Victorian terrace, providing a house for a family and a studio. The premier feature was the light tower, soaring above the roof with suspended stairway, acquiring the core of the south east and northwestern skies. French style sash windows adorned the master bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light. {https://www.facebook.com/groups/1240633520160302,