The Pialligo Estate property on the day the failed businesss financier took possession. Photo: Ian Bushnell. Another Pialligo Estate company has been placed in liquidation, triggering a report to the corporate regulator that director John Russell has been involved in two failed businesses. Liquidator Frank Lo Pilato from RSM Australia notified the winding up of…
NSW Fair Trading Antony Resnick and Suelen McCallum of DVT Group were appointed voluntary administrators (Administrators) of Toplace Pty Ltd (Toplace) on 7 July 2023. For the duration of the administration, the Administrators have exclusive authority to deal with the property, assets and liabilities of Toplace. NSW Fair Trading understands this event will create uncertainty…
The company owned by Sydney developer Jean Nassif has gone into administration, weeks after a warrant was issued for his arrest over alleged fraud offences. Key points: Police are seeking to speak with Jean Nassif regarding an alleged fraud His company, Toplace, is one of the largest developers in Sydney Defects have been identified at…
The company of a fugitive Sydney property developer has collapsed into administration. At the end of last week, Jean Nassifs massive building firm Toplace Pty Ltd filed papers with ASIC that showed it had appointed administrators. Mr Nassif founded the business but last month NSW Police issued an arrest warrant for him in relation to…
Business bankruptcies are surging around the world, in some countries reaching volumes not seen since the aftermath of the 2008 financial crisis. Its likely just the start of a wave of corporate defaults: A decade of cheap money instilled a false sense of invincibility in business executives and private equity managers who forgot that bust normally follows…
Three more Australian building companies have collapsed, entering liquidation or voluntary administration. It is not yet clear how many homes across the country will be impacted. WATCH THE VIDEO ABOVE: Another Victorian building company collapses. Looking for a new job or job candidate? Post jobs and search for local talent on 7NEWS Jobs >> Millbrook…
At a Glance The Insolvency Service today announced the outcome of the Governments consultation on implementing two model laws in the field of insolvency, which have been adopted by the United Nations Commission on International Trade Law (UNCITRAL) namely, the Model Law on Enterprise Group Insolvency (Group Model Law) and the Model Law on Recognition…
Future Lifestyle Fashions Ltd (FLFL) has said that claims worth Rs 3,477.28 crore from as many as 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). Catalyst Trusteeship Ltd has emerged as the lead financial creditor with Rs 600.40 crore, having a 17.4 per cent voting share in the Committee…
Go First Airlines (formerly known as Go Airlines) of India has commenced the search for potential investors as part of its ongoing insolvency proceedings, as stated in a newspaper advertisement released on Monday. The airline has taken this step in compliance with the procedural requirements mandated by Indian law. According to two bankers familiar with…
Future Lifestyle Fashions Ltd (FLFL) has said that claims worth Rs 3,477.28 crore from as many as 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). Catalyst Trusteeship Ltd has emerged as the lead financial creditor with Rs 600.40 crore, having a 17.4 per cent voting share in the Committee…