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Creditors of collapsed Western Sydney developer Toplace, which amassed debts of over $2 billion before founder and now fugitive Jean Nassif fled to Lebanon, voted on Tuesday to hold off liquidation of the group in favour of a scheme that may see them get a better payout.
Known as a holding deed of a company arrangement (DOCA), the proposal was formulated and recommended by administrators Suelen McCallum and Antony Resnick from dVT Group who were appointed on July 7 last year.
Jean Nassif, pictured here with his wife Nissy is now a fugitive living in L…
Read the full article at: https://www.afr.com/property/residential/toplace-creditors-vote-to-defer-liquidation-in-hope-of-better-return-20240416-p5fk79
