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When to Begin - Pick the Best and Worst Building Companie in Australia..?
The Bankrupt, Accused, and the ending of Building CompanyBillion Dollar Regime Toplace
from Sept 2023
A Suspect building adviser played a pivotal part in securing — managing the disintegration of Insolvent Jean Nassif's business empire, which sunk under financial obligations exceeding $1.24 billion, including $88.5 million owed to suppliers and tradespeople.
Brand New revelations about the ruin of Nassif's Toplace group of compaines have surfaced in evidence presented to the Federal Court this month by bankruptcy administrators from dVT Group. These evidence show that secured creditors such as banks with mortgages, are owed one thousand million.
Additional Relevant Subject Matter:
Riad Tayeh, Jean Nassif, and Toplace's Skyview building development in Castle Hill.
Creditors without Security, have made claims with a total est. quarter of a billion.
Federal Court filings also indicate that Riad Tayeh, founder of dVT Group of companies, which played a fundamental duty in securing his firm's appointment as bankruptcy managers. In spite of being announced financially bankrupt in July last year with several million in debt, Tayeh, now a consultant, and partner Antony Resnick attended essential business meetings with Toplace executives in the days before the firm's appointment as bankruptcy administrators.
As well as those involved at the meetings on June 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate has been suspended while she fights charges related to a $150 million fraud tied to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was declared financially bankrupt in June 2022.
Just 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 fraud to secure a $150 million loan from Westpac.
In August, Resnick and fellow dVT partner Suelen McCallum were nominated voluntary bankruptcy managers for Toplace. by Jean Nassif, its sole director The bankruptcy administrators now face the task of handling one of Australia's largest corporate collapses.
According to Toplace's website, Jean Nassif's company has delivered around 30,000 residential units, shopping centers, and commercial properties throughout Sydney. 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 CBD of Alexandria, Melbourne we had renovated our beautiful refuge of greater than 20 years, a secret special architecturally designed house and garden amidst the storm of the city. For greater than 20 years, it was a beautiful sanctuary of solacement, a haven of shimmering beauty and sanctuary.
As an prestigious architect, my friend had graced our community with many city improvement proposals, but of these none were more personal that the innovative design of the Lawrence Street, Alexandria, Victorian. Conspicuously in the Sydney Morning Herald, it was hailed as a creative masterpiece, blending old-world charm with modern elegance.
The Victorian conversion was a testament to architectural creativity—a three-story build and renovations to a Victorian terrace, providing a home for a family and a home office. The highlight was the light tower, high above the main structure with suspended stairs, capturing the essence of the southeastern and north west skies. French sash windows adorned the main bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light.
However, beautiful lifestyle was destroyed when our neighbour, a fencing contractor, entered the scene next door. Initially welcomed, his illegal actions soon created absolute chaos threatening the safety of everyone in the area. Without proper notification, he began demolishing our brick supporting wall, the major load supporting wall of our master bedroom. At one period of time he had setup a hose from his roof diverting water into our upstairs studio, causing several thousand dollars damage to our property and undermining its structural integrity.
To compound matters, we through investigation found that the intermediate wall lacked the required fire rating, a critical omission that threatened everyone's well-being. Despite our urgent endeavours to seek resolution the issue with the builder and contacting the council, we were informed the builder's inspector had already signed off on the construction, ignoring our concerns and leaving us vulnerable to harm.
In spite of getting a legal decision in their favour and recompense for the damages incurred, the emotional toll was immeasurable and created many unpleasant memories. They were forced to sell their beloved home, we mourned the loss of our garden refuge, another victim of government negligence and dicey construction practices. The lack of oversight and governance by local government allowed this tragedy to unfold, highlighting the necessity for more responsibilities and protection for homeowners.
As we grapple with the effects of this trial, we are left to ponder: What recourse do owners have when their greatest financial investment are threatened by the negligence of dodgy builders? {https://www.facebook.com/groups/1240633520160302, Builder