Toplace – one of Australia’s biggest property developers – goes under leaving thousands of apartment owners in the lurch as founder Jean Nassif disappears overseas
One of Australia’s biggest and most controversial property developers, Toplace, has collapsed into administration.
The company’s founder, Jean Nassif, is believed to have fled overseas and is wanted by NSW Police over fraud-related charges.
Toplace Group has been described as one of Australia’s largest privately owned development and construction companies.
Its downfall is expected to impact thousands of apartment buyers and contractors across Sydney with many projects currently under construction.
Toplace founder Jean Nassif (pictured with wife), is believed to have fled overseas and is wanted by NSW Police over fraud-related charges
The company collapse comes after Mr Nassif was last week banned from operating.
Antony Resnick and Suelen McCallum of DVT Group were appointed as voluntary administrators on July 7.
More to follow
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