More than $500 million worth of Sydney housing development projects are set to hit the market as fugitive property developer Jean Nassif’s empire crumbles. The Sydney Morning Herald reports thousands of apartment owners living in Toplace buildings are concerned that there will be no money left to fix millions ofContinue Reading
Fenton & Fenton, a much-loved Australian homewares boutique that garnered a massive following over the years, has collapsed. The once-thriving business in the trendy suburb of Prahran in Melbourne’s inner southeast has been placed under external administration. The merchant’s website, now defunct, features a brief statement announcing the liquidation: “FentonContinue Reading
A court has ordered a building company to go into liquidation after it failed to pay back its debts. On Wednesday morning, the Victorian Supreme Court placed Joestarr Homes Pty Ltd into liquidation after failing to pay an excavation contractor $73,000, with the unpaid invoices dating back as far asContinue Reading
Yet another building company has collapsed, making it the fifth building company this week revealed to have gone under amid an industry-wide crisis. News.com.au can reveal that on July 11, Melbourne-based residential builder Construct Homes Pty Ltd went into receivership. Oak Capital Mortgage Fund appointed Sam Kaso of insolvency firmContinue Reading
The owner of failed boutique builder Modco Residential tried to sell off her designer goods online just a few months before her company collapsed. Perth entrepreneur Cynthia Lu took to Facebook Marketplace in April in an attempt to sell a number of her luxurious goods, three months before her businessContinue Reading
A prominent Western Australian builder has issued an emotional statement as his company enters voluntary administration. Modco Residential, a construction company founded by glamour couple Cynthia Lu and Yusuf Khan, has appointed Perth-based firm GTS Advisory to assist in navigating its unfolding collapse. Director Damien Clancy apologises that the company,Continue Reading
The company of a fugitive Sydney property developer has collapsed into administration. At the end of last week, Jean Nassif’s 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 warrantContinue Reading
Disgruntled tradies left out of pocket from the recent collapse of a construction firm have ripped out the equipment from one customer’s house to try to recoup their money. They also appear to have trashed the home and left it in an unsafe state, with the owner calling it aContinue Reading
A prominent residential building company in Western Australia has gone bust. On Monday, the Slatter Group WA Pty Ltd, trading as the Slatter Group, appointed liquidators to wind up the company. Samuel John Freeman and Clare Anne Baily of big four accounting firm Ernst & Young (EY) are the jointContinue Reading
A Tasmanian building company has gone into liquidation, leaving multimillion-dollar projects in the lurch. It is the latest in a seemingly never-ending series of building firms collapsing as the industry faces the rising cost of labour and construction materials. A liquidator was appointed to Multi-Res Builders Pty Ltd on MayContinue Reading