Toplace administrators chase luxury cars and Lamborghini sale proceeds

Cars being driven by failed tycoon Jean Nassif’s ex-wife Nissy and his daughter Ashlyn Nassif are in the crosshairs of administrators called into his collapsed development empire.

Administrators of Jean Nassif’s collapsed development empire are chasing cars being driven the failed tycoon’s ex-wife Nissy. Picture: Richard Dobson

Cars being driven by failed tycoon Jean Nassif’s ex-wife Nissy and his daughter Ashlyn Nassif are in the crosshairs of administrators called into his collapsed development empire as they scramble to recover funds.

While Mr Nassif has fled to Lebanon and the Lamborghini that the high-profile developer lavishly gifted to his former wife on social media has since been sold off, administrators dVT are still chasing the proceeds and other funds taken out of the failed Toplace empire.

Nisserine ‘Nissy’ Mattar is also in a dispute with administrators about their demands that she switch from an expensive Range Rover owned by the failed development business into a smaller car.

DVT said it had struck an “interim agreement” with Nissy giving her access to a vehicle and offered to repossess it with consideration to provide a more ­affordable option. “This offer was rejected. No further offers have been proposed at this time,” the firm’s report to creditors said.

Jean Nassif. Picture: Liam Mendes

Luxury cars are some of the few assets still remaining for creditors after dVT uncovered deals in which millions of dollars of ­Toplace funds were sent to Lebanon for land deals and paid to a brother of Mr Nassif.

The company was also hit by losing its building licence and relying on borrowings to keep going, with proceeds from the properties that have been sold off going to financiers rather than small creditors owed about $400m.

The report to creditors by dVT revealed that Nissy was in possession of a motor vehicle owned by Toplace, and it had also begun proceedings for the recovery of the vehicle.

“We are advised by our lawyers that there are legal limitations that exist at the moment which prevent us from providing any further information to creditors about these proceedings and all we can say is that we are taking all steps within our power to ensure that Toplace obtains judgment in those proceedings as soon as possible,” the report said.

DVT had already dealt with Burwood Police officers over the help in returning the car.

They said it was transferred from Toplace after they were called in last July. But the police said the matter was closed.

Ashlyn Nassif is fighting allegations of falsifying documents to meet a $10.5m pre-sale condition for the Skyview apartments in Castle Hill, in Sydney’s northwest. Police have alleged she submitted fake contracts to Westpac in 2021 for a $150m loan to fund three of the five Skyview towers, or about 900 apartments.

She has been driving a Mercedes Benz, as permitted under her employment contract, but dVT has indicated that the car, owned by Toplace, will be sold off.

Another Land Rover used by Toplace staff is expected to be sold off shortly via auctioneers and a Ford Mustang has already been sold for $55,000.