Subversiveness Backside of Connected Wall: A Neighbour Disastrous Effect on Our Idyllic Sanctuary
In the CBD of Lawrence street Melbourne we had renovated our beautiful sanctuary of some 30 years, a secret award winning house and garden in the centre of the storm of the city streets. For greater than 20 years, it was a beautiful place of solace, a oasis of shimmering beauty and safety.
As an prestigious architect creator, my friend had graced our community with numerous city improvement creative proposals, but of these none were more beloved that the innovative design of the Lawrence Street, Alexandria, Sydney, Victorian conversion. Featured in the Sydney Morning Herald, it was acclaimed as a masterpiece, blending Victorian appeal with neo elegance.
The Victorian transmutation was a creed to architectural ingenious—a two-story build and conversion to a late Victorian semi-attached, providing a house for a family and a home-office or studio. The premier feature was the light tower, soaring above the main structure with suspended stairs, capturing the essence of the south east and north west sky. French sash windows dressed the main bedroom, while timber casement windows embellish in the bathroom welcomed views and filtered light.
However, this pleasant existence was destroyed when a new neighbour, a builder, entered the scene next door. Initially welcomed, his illegal actions soon turned our lives upside down threatening the safety of everyone in the area. Without warning, he began demolishing a major supporting wall on our property, the main load supporting wall of our bedroom. At one stage he had setup pipes from his roof diverted water into our office, causing over some several thousand dollars damage to the upstairs rooms, and undermining the footing of the house.
Further to outline the absolute lack of construction experience, we through investigation found that the intermediate wall did not meet the legal fire rating, a major omission that threatened our safety. In spite of our urgent efforts to rectify the issue with the neighbour's 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.
In spite of receiving a judgement in their favour and recompense for restitution, the emotional toll was abysmal and created many unpleasant memories. They were forced to sell their beautiful home, we mourned the loss of our garden refuge, another victim of government negligence and dodgy construction practices. The lack of proper oversight and appropriate governance by government and local council allowed this tragedy to unfold, heightening the need for greater responsibilities and protection for owners.
As we wrestle with the consequence of this ordeal, we are left to consider: What help do homeowners have when their sanctuaries are made vulnerable by the carelessness of dodgy construction companies?
Where to Start - Pick the Qualified and Unqualified Builders in Commonwealth of Australia..?
The Failed, Fugitive, and the end of Building CompanyToplace
from Oct 2023
A Bankrupt consultant was deeply concerned with obtaining his insolvent registered company a very moneymaking job — managing the collapse of Defendant Jean Nassif's property empire, which sunk under financial obligations in excess of $1.24 billion, inclusive $88.5 million payable to suppliers and onsite builders.
Fresh disclosures about the failure of Nassif's Toplace group have appeared in documented evidence shown to the Australian Federal Court this week by administrators from dVT Group of Companies. These documents 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 one thousand million.
More Relevant Subject Matter:
Jean Nassif, and Toplace's Skyview building development in Castle Hill.
Unsecured creditors, have filed claims with a total estimated quarter of a billion.
Court filed claims also show that Riad Tayeh, company founder of dVT Group of companies, which was involved in a key duty in guaranteeing his firm's appointment as administrators. Even though being announced financially bankrupt in July last year with $5.4 million in debt, Tayeh, now a consultant, and business colleague Antony Resnick attended important business meetings with Toplace executives in the weeks before the companies appointment as bankruptcy managers.
Among those at the meetings on July 2020 was Jean Nassif's 29-year-old daughter, Ashlyn, whose Certificate to practice Law was suspended while she fights charges related to a $150 million fraud tied to Toplace's Skyview development in Castle Hill.
Riad Tayeh was legally bankrupt in July last year.
Just before the 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 creating false documentation to secure a $150 million loan from Westpac.
In July, Resnick and fellow dVT partner Suelen McCallum were appointed voluntary bankruptcy managers for Toplace. by Jean Nassif, its sole director The bankruptcy managers now face the task of handling one of New South Wales' biggest corporate collapses.
With reference to Toplace's website, Jean Nassif's company has delivered around 30,000 residential units, shopping centers, and commercial properties throughout Sydney. 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.
