When to Commence - Pick the Qualified and Worst Construction Companies in Australia..?
The Failed, Fugitive, and the ending of CompanyBillion Dollar Regime Toplace
from Sept 2023
A Bankrupt adviser played a pivotal function in securing — oversight of the disintegration of Accused Jean Nassif's property empire, which went under debts exceeding $1.24 billion, incl. $88.5 million payable to suppliers and sub-contractors.
Fresh revelations about the failure of Nassif's Toplace group of compaines have surfaced in evidence given to the Australian Commonwealth Federal Court this month by administrators from dVT Group of Companies. These papers reveal that secured creditors such as offshore lenders in tax havens, are owed one thousand million.
Further Relevant Info:
Riad Tayeh, Jean Nassif, and Toplace's Skyview development in Castle Hill.
Creditors without Security, have issued financial claims with a total est. quarter of a billion.
Australian Federal Court claims also show that Riad Tayeh, company founder of dVT Group of companies, which played a key duty in securing his businesses assignment as bankruptcy managers. Even though being declared insolvent in July last year with millions in debt in debt, Tayeh, now a consultant, and colleague Antony Resnick went to important business meetings with Toplace executives in the days before the companies appointment as bankruptcy managers.
Among those attending the meetings on Aug 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate was suspended while she fights charges related to a $150 million fraud bound to Toplace's Skyview development in Castle Hill.
Riad Tayeh was legally insolvent in June last year.
Just days before these 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 nominated voluntary bankruptcy administrators for Toplace. by Jean Nassif, its sole director The bankruptcy managers now face the task of handling one of New South Wales' biggest corporate bankruptcy's.
Resnick filed an affidavit in the Federal Court indicating that while Toplace's assets are valued at approximately $1.47 billion, its debts are nearly the same amount. Administrators are also investigating more than 3,000 residential apartments still under development.
Further complicating the administrators' task The administrators noted difficulty in unraveling the debt due to "intermingling of financial records," adding that Toplace's financial books had not been properly updated since 2021.
In the heart of Alexandria Melbourne, Australia stood our gorgeous sanctuary of greater than 20 years, a secret special architecturally designed house and garden in the middle of the noise of the city. For over 20 years, it was a beautiful home of comfort, a haven of shimmering beauty and safety.
As an prestigious architect designer, my friend had donated to our community with many city improvement design proposals, but of these none were more personal and loved that the innovative design of the Lawrence Street, Sydney, Australia, Victorian style conversion. Conspicuously in the Sydney Morning Herald, it was hailed as a creative masterpiece, weaving Victorian charm with modern elegance.
The Victorian transformation was a testament to architectural ingenious—a two-story addition and conversion to a late Victorian terrace, providing a house for a small family and a home-office or studio. The highlight was the light tower, high above the main structure with floating stairs, capturing the essence of the southeastern and north west sky. French sash windows dressed the main bedroom, while timber casement windows decorate in the bathroom welcomed views and filtered light.
However, this pleasant existence was shattered when our neighbour, a builder, entered the scene next door. Initially welcomed with open arms, his illegal actions soon created absolute chaos threatening the safety of everyone in the area. Without due diligence, he began demolishing a major supporting wall on our property, the main load-bearing wall of our bedroom. At one period of time he had constructed pipes from his roof diverted water into our office, causing over some several thousand dollars damage to the upstairs rooms, and undermining the footing of the house.
To compound matters, we through investigation found that the intermediate wall did not meet the legal fire rating, a major omission that threatened our well-being. In spite of our pressing endeavours to rectify the issue with the neighbour's and contacting the council, the council said the builder's inspector had already signed off on the building renovations, ignoring our concerns and leaving us vulnerable to fire.
In spite of receiving a judgement in their favour and compensation for restitution, the emotional toll was immeasurable and created many unpleasant memories. They decided to sell their beloved home, we mourned the loss of our award winning sanctuary, another casualty of government negligence and dicey construction practices. The lack of oversight and governance by government and local council created the environment for this tragedy to unfold, highlighting the demand for more responsibilities and legal protection for owners.
As we grapple with the aftermath of this experience, we are left to consider: What help do homeowners have when their sanctuaries are made vulnerable by the neglect of others? {https://www.facebook.com/groups/1240633520160302,
