firm of undischarged bankrupt to be administrator of Jean Nassif’s failed property empire

This week Resnick filed an affidavit in the Federal Court, which indicated that while the Toplace Group is worth about $1.47 billion on paper, the group’s debts were approximately the same amount.

According to its website, “Toplace Group’s founder Jean Nassif has delivered approximately 30,000 residential homes, shopping centres and commercial suites all located in Sydney.”

Although Toplace boasts of its “remarkable buildings [which] are delivered in response to evolving design and…