The New South Wales premier, Chris Minns, has urged the controversial Sydney developer Jean Nassif to submit to authorities as his company collapses, a month after a warrant was issued for his arrest.
Specialist accountants DVT Group has been appointed as external administrators of the Nassif-owned company, Toplace, which is responsible for constructing several projects in Sydney with structural defects.
Minns said creditors and enforcement agencies were keen to speak to the Toplace founder, who is believed to be overseas and wanted for alleged fraud offences.
Controversial Sydney developer goes into administration as police search for owner Jean NassifRead more
“I would encourage him to make himself available to investigators in NSW so that we can find out exactly what he’s done in this state and what his potential liabilities are,” Minns said on Wednesday.
He urged affected Toplace clients to contact the appointed administrator to register as unsecured creditors.
“We need to allow those administrators to undertake their work and determine what the full scale of the financing of the organisation is, as well as whatever potential damages there are on what we think are about 10 properties in NSW.”
NSW Fair Trading this week said it was working with the Strata Community Association and the Owners Corporation Network to help strata managers and owners in Toplace buildings.
The agency advised buyers with deposits on off-the-plan Toplace sales to contact their conveyancer or legal adviser for advice on their entitlements.
“The disciplinary action to cancel and disqualify Toplace’s contractor licence remains in force,” it said. “Also building work rectification orders and other orders issued by NSW Fair Trading remain in force at this time.”
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NSW police last month issued a warrant for Nassif’s arrest, alleging a $150m loan from Westpac was obtained using fraudulent pre-sale documents for an apartment complex in Castle Hill.
The NSW civil and administrative tribunal heard last week that Nassif left the country on 22 December, with police at the time seeking the public’s help to determine his whereabouts after a two-year fraud investigation.
Toplace was established in 1992 and describes itself as one of Australia’s largest privately owned construction and property development companies.
2023-07-12 02:46:48
Post from www.theguardian.com