Steller's Simon Pitard and Nicholas Smedley (Image: Steller)

When a $3 billion business suddenly collapses, with losses potentially exceeding $300 million, you’d expect it to be front-page news -- especially when the people involved are the scions of two wealthy Melbourne families.

Alas, the demise of the Steller Property Group has largely been confined to the commercial property pages, despite the scale of the calamity involved and even a cameo appearance by Mick Gatto.