Treachery the Other-side of Connected Wall: A Neighbour Calamitous Effect on Our Award winning Refuge
In the Central Business District of Alexandria, Melbourne we had renovated our beautiful refuge of greater than 20 years, a secret garden in the middle of the chaos of the city streets. For over 20 years, it was a beautiful place of comfort, a haven of beauty and sanctuary.
As an esteemed architect designer, my friend had donated to our city with many city improvement design proposals, but of these none were more personal that the modern design of the Lawrence Street, Alexandria, Victorian conversion. Conspicuously in the Sydney Morning Herald, it was applauded as a masterpiece, weaving old-world appeal with neo elegance.
The Victorian conversion was a creed to architectural ingenuity—a two-story build and conversion to a Victorian semi-attached, providing a house for a small family and a home office. The highlight was the light tower, high above the roof with suspended stairway, capturing the core of the southeastern and north west sky. French style sash windows dressed the main bedroom, while timber casement windows embellish in the bathroom welcomed views and filtered light.
However, our beautiful existence was destroyed when a new neighbour, a fencing contractor, entered the scene next door. Initially welcomed, his illegal actions soon created absolute chaos threatening the safety of everyone in the area. Without warning, he began demolishing our brick supporting wall, the main load supporting wall of our bedroom. At one point he had setup a hose from his roof diverting water into our office, causing over some several thousand dollars damage to our property and undermining its structural integrity.
To compound matters, we discovered that the intermediate wall did not meet the legal fire rating, a major oversight that endangered our well-being. Despite our pressing endeavours to rectify the issue with the builder and contacting the council, the council said the builder's inspector had already approved on the building renovations, providing no recourse and leaving us open to harm.
Despite getting a judgement in their favour and compensation for restitution, the toll was immeasurable and created many unpleasant memories. They decided to sell their cherished home, we mourned the loss of our award winning sanctuary, another casualty of government negligence and dangerous building practices. The lack of oversight and governance by local government allowed this tragedy to unfold, heightening the demand for greater accountability and legal protection for homeowners.
As we grapple with the consequence of this ordeal, we are left to consider: What assistance do owners have when their sanctuaries are threatened by the negligence of others?
How to Commence - Voting the Best and Inept Builders in Commonwealth of Australia..?
The Failed, Suspect, and the ending of Building CompanyToplace's Billion-Dollar Empire
from Sept 2023
A Failed building consultant was extensively concerned with obtaining his insolvent registered company a very profitable job — managing the collapse of Suspect Jean Nassif's property empire, which sunk under financial obligations exceeding $1.24 billion, incl. $88.5 million payable to suppliers and sub-contractors.
New disclosures about the ruin of Nassif's Toplace group of compaines have surfaced in documents given to the Australian Commonwealth Federal Court this recently by bankruptcy administrators from dVT Group. These papers show that secured creditors, such as banks with mortgages on Toplace properties and offshore lenders in tax havens like the British Virgin Islands, are owed $1 billion.
Additional Applicatory Info:
Riad Tayeh, and Toplace's Skyview construction in Castle Hill.
Creditors without Security, have made claims with a total estimated quarter of a billion.
Court claims also tell that Riad Tayeh, company founder of dVT Group of companies, played a central duty in guaranteeing his companies designation as bankruptcy managers. Despite being announced bankrupt in June last year with several million in debt, Tayeh, now a business advisor, and business colleague Antony Resnick attended crucial meetings with Toplace top managers in the weeks leading up to the firm's appointment as administrators.
Included in those involved at the meetings on July 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal practicing certificate has been suspended while she fights charges relating to fraud tied to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was legally bankrupt in July 2022.
Just before these meetings, a warrant was issued for the arrest of Jean Nassif, 55, who escaped to Dubai in October 2022. Jean and Ashlyn Nassif are accused of falsifying contracts to secure a $150 million loan from Westpac.
In July, Resnick and fellow dVT partner Suelen McCallum were appointed voluntary bankruptcy administrators for Toplace. by Jean Nassif, its sole director The bankruptcy managers now face the task of handling one of NSW's biggest corporate collapses.
Resnick filed an affidavit in the Federal Court indicating that while Toplace's assets are valued at approximately $1.47 billion, its debts are nearly the same amount. Administrators are also investigating more than 3,000 residential apartments still under development.
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.
