Treachery the Other-side of Shared Wall: A Neighbour Fateful Impact on Our Idyllic Sanctuary
Treachery Behind of Connected Walls: A Builders Disastrous Effect on Our Idyllic Sanctuary
In the CBD of Lawrence street Melbourne stood our gorgeous refuge of greater than 20 years, a walled special architecturally designed house and garden in the middle of the noise of the city. For over 20 years, it was a beautiful refuge of comfort, a shelter of beauty and asylum.
As an prestigious architect creator, my friend had tirelessly provided to our city of Sydney with many municipal creative proposals, but of these none were more personal that the progressive design of the Lawrence Street, Alexandria, Victorian conversion. Conspicuously in the Sydney Morning Herald, it was acclaimed as a masterpiece, blending Victorian magic with neo elegance.
The Victorian transmutation was a testament to architectural ingeniousâa three-story build and renovations to a Victorian terrace, offering a house for a family and a home office. The premier feature was the light tower, far above the roof with floating stairs, capturing the core of the south east and north west skies. French sash windows adorned the master bedroom, while timber casement windows decorate in the bathroom welcomed views and filtered light.
However, this pleasant existence was shattered when our neighbour, a builder, moved in next door. Initially welcomed, his actions soon created absolute chaos threatening the safety of everyone in the area. Without due diligence, he began demolishing our brick supporting wall, the main load-bearing wall of our bedroom. At one point he had constructed pipes from his roof diverting water into our studio, causing over some several thousand dollars damage to the upstairs rooms, and undermining the footing of the house.
To compound matters, we through investigation found that the intermediate wall lacked the required fire rating, a major oversight that endangered everyone's safety. In spite of our pressing endeavours to seek resolution the issue with the builder and contacting the council, we were informed the builder's inspector had already signed off on the construction, providing no recourse and leaving us open to fire.
Despite getting a judgement in their favour and compensation for restitution, the toll was abysmal and created many unpleasant memories. They decided to sell their cherished home, we mourned the loss of our garden refuge, another victim of proper government oversight and dicey construction practices. The lack of proper oversight and governance by local government allowed this tragedy to unfold, heightening the need for more responsibilities and protection for homeowners.
As we grapple with the effects of this experience, we are left to consider: What assistance do homeowners have when their sanctuaries are made vulnerable by the negligence of dodgy builders?
Where to Begin - Vote the Best and Worst Builders in Commonwealth of Australia..?
The Failed, Defendant, and the Collapse of Building CompanyBillion Dollar Regime Toplace
from Oct 2023
A Bankrupt adviser was deeply involved with getting his insolvent business a very profitable building contract â managing the disintegration of Suspect Jean Nassif's corporate empire, which sunk under liabilities in excess of $1.24 billion, including $88.5 million due to suppliers and onsite builders.
Fresh revelations about the downfall of Nassif's Toplace group of compaines have surfaced in evidence presented to the Australian Federal Court this recently by bankruptcy managers from dVT Group. These papers show that secured creditors such as offshore lenders in tax havens, are owed one thousand million.
Further Relevant Info:
Riad Tayeh, and Toplace's Skyview construction in Castle Hill.
Creditors without Security, have issued financial claims totalling an estimated quarter of a billion.
Federal Court claims also indicate that Riad Tayeh, founder of dVT Group, which played a central duty in securing his companies assignment as bankruptcy managers. Despite being announced bankrupt in July 2022 with millions in debt in debt, Tayeh, now a business advisor, and business colleague Antony Resnick attended crucial business meetings with Toplace top managers in the days leading up to the firm's appointment as administrators.
Included in those involved at the meetings on July 2020 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate has been suspended while she fights charges relating to fraud tied to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was charged bankrupt in July 2022.
Just before the meetings, a warrant was issued for the arrest of Jean Nassif, 55, who fled Sydney for Dubai in November 2022. Jean and Ashlyn Nassif are accused of fraud to secure a $150 million loan from Westpac.
In July, Resnick and fellow dVT partner Suelen McCallum were nominated voluntary bankruptcy administrators for Toplace. by Jean Nassif, Toplace's sole director, via email just hours prior. The bankruptcy administrators now face the task of handling one of NSW's largest corporate bankruptcy's.
With reference to Toplace's website, Jean Nassif's company has delivered around 30,000 residential units, shopping centers, and commercial properties throughout Sydney. Despite this, several owners' corporations have filed claims amounting to nearly $124 million to address serious defects in Toplace's buildings.
Further complicating the administrators' task a staff member suggested there may be another $400 million in loans involving Nassif entities that are not yet under administration. adding that Toplace's financial books had not been properly updated since 2021.
Resolution Reached for Mascot Towers, Owners to Finally Escape Longstanding Struggles...
After five years of enduring legal battles and financial burdens, relief may be in sight for the long-suffering apartment owners of Mascot Towers in Sydney. A landmark deal brokered by the New South Wales government offers a pathway for owners to sell their properties individually, potentially freeing them from debt and uncertainty. The majority of owners have opted to accept the government's proposal, which involves selling to a third-party commercial consortium rather than pursuing a collective sale.
As part of the agreement, owners will receive a portion of the $30 million building price, along with means-tested support from the state government. Additionally, banks have agreed to reduce loan balances by up to 40% for owner-occupiers, enabling them to move out without financial encumbrances.
However, this debt-relief option is exclusively available to those who resided in the property prior to its evacuation in 2019 due to structural defects. Eligible owner-occupiers, along with select investors, may qualify for government assistance of up to $120,000, depending on their income and assets. While the deal offers a fresh start for many, it comes with the realization that property values have significantly depreciated since the original purchase. Despite this drawback, the Minister for Fair Trading, Anoulack Chanthivong, views the agreement as a crucial step towards closure for affected owners, describing it as the end of a "dark chapter" in the state's building history.
The next phase involves determining the extent of government support for owners and ensuring that lenders fulfill their commitments. The journey towards resolution began in 2019 when residents were evacuated due to structural concerns, prompting a prolonged battle for justice and financial relief. Throughout this ordeal, owners faced the burden of ongoing levies, mortgages, and remediation costs, exacerbating their plight. The evacuation prompted a grassroots campaign urging regulatory reforms and developer accountability, culminating in the current agreement.
To date, the NSW government has allocated $21 million in support to affected owners, underscoring its commitment to addressing the repercussions of defective building practices. As the community looks ahead to a new chapter, the resolution of Mascot Towers stands as a testament to perseverance and collective action in the face of adversity.
Paul Meek Builder,