Developer Toplace hits rock bottom as 500 creditors chase debts

With its founder and owner Jean Nassif on the run over alleged fraud-related offences, Sydney-based developer Toplace faces the ire of more than 500 creditors and 20,000 homeowners affected by the group's demise. After the company went into voluntary administration earlier this month, more than 140 people joined last week’s first creditors meeting, and administrators from DVT Group surmise that this case may well be among one of the largest property administrations in Australia. More from Business News Australia.