An undischarged bankrupt was instrumental in landing his insolvency firm the lucrative rights to be administrator of fugitive Jean Nassifs failed property empire, which has collapsed owing more than $1.24 billion, including $88.5 million to suppliers and tradespeople.
The scale of the collapse of Nassifs Toplace group has been outlined in documents tendered in the Federal Court this week by administrators dVT Group and details how secured creditors banks with mortgages over Toplace properties, as well as offshore lenders including mysterious entities in the tax haven of the British Virgin Islands are owed $1 billion.
Riad Tayeh and Jean Nassif and Toplace…
Read the full article at: https://www.smh.com.au/national/nsw/the-bankrupt-the-fugitive-and-the-billion-dollar-toplace-collapse-20230802-p5dter.html