Building companies Millbrook Homes, Bentley Homes and Toplace collapse, entering liquidation or voluntary administration

Three more Australian building companies have collapsed, entering liquidation or voluntary administration.

It is not yet clear how many homes across the country will be impacted.

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Millbrook Homes had liquidators appointed on June 26.

The NSW company specialised in luxury homes in and around Sydney.

Millbrook is affiliated with Elderton Luxury Homes, which went into liquidation late last year.

Jonathon Keenan and Peter Krejci of BRI Ferrier have been appointed as liquidators.

Melbourne builder Bentley Homes has gone into liquidation, leaving many people out of pocket. File image. Credit: AAP

Bentley Homes has also collapsed into liquidation.

“Everything we have is in that house, it just breaks your spirit,” customer Ronald Brown told AAP when the news broke.

He and his wife have paid close to $300,000 for their home in Doreen in Melbourne’s north, but are now unsure if they will be able to move in as planned in September.

The couple work five jobs between them and fear they will be unable to pay their rent and mortgage if there are any more delays.

“It’s not like we can just take on more work because we’re already at capacity,” Brown said.

“Our biggest concern at the moment is the financial stress and worry about how we’re going to continue paying for everything.”

Brown believes their insurance policy should pay out about $80,000 but is yet to hear confirmation this will happen.

About 50 customers have reportedly been impacted by the liquidation.

Timothy Mark Shuttleworth Holden from Crouch Amirbeaggi was appointed liquidator on June 30.

NSW Police have issued an arrest warrant for Sydney property developer Jean Nassif. Credit: AAP

Toplace, owned by accused fraudster and fugitive Jean Nassif, has gone into administration.

Records filed with the Australian Securities and Investment Commission show an administrator was appointed to his company Toplace Pty Ltd on Monday.

A spokesperson for dVT Group confirmed to that staff from the firm had been appointed as voluntary administrators for Toplace.

The company was established in 1992 and is one of Australia’s largest privately owned construction and property development companies, with numerous high-rise apartment projects under construction in Sydney.

Arrest warrant issued

Nassif, the owner and founding director of Toplace, has been accused of fraud and is thought to be overseas.

NSW Police issued an arrest warrant for the developer last month amid allegations a $150 million loan from Westpac was obtained using fraudulent pre-sale documents for an apartment complex in Castle Hill.

The 55-year-old left the country on December 22.

He had earlier applied to review a NSW Fair Trading decision to suspend his licence for 10 years and permanently ban Toplace from engaging in construction work.

Fair Trading found both Nassif and his firm had engaged in improper conduct.

That decision was put on hold to enable the company to finish remediation works on several apartment blocks, but last week the ban was reinstated.

The NSW Civil and Administrative Tribunal found Westpac’s loan was already at risk with the warrant issued for Nassif’s arrest and no evidence the developer planned to return to Australia.

A worrying trend

The news comes after the collapse of larger builder Porter Davis in late March, which impacted about 1700 homes in Victoria and Queensland.

Porter Davis fell over with about $147 million in debt, but it’s unclear when creditors will get their money or how much they will receive.

Construction firm Lloyd Group also collapsed earlier this year.

Award-winning builder Mahercorp also announced it went into voluntary administration in May, affecting more than 700 homes, as the industry continues to struggle amid rising costs.

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