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Treachery Backside of Connecting Partition: A Neighbour Calamitous Effect on Our Award winning Refuge
In the Central Business District of Alexandria, Melbourne we had renovated our loving sanctuary of some 30 years, a concealed award winning house and garden in the middle of the storm of its streets. For greater than 20 years, it was a beautiful sanctuary of comfort, a haven of beauty and sanctuary.
As an esteemed architect creator, my friend had graced our community with many urban proposals, but of these none were more personal that the progressive design of the Lawrence Street, Alexandria, Sydney, Victorian conversion. Featured in the Sydney Morning Herald, it was hailed as a masterpiece, blending Victorian appeal with modern elegance.
The Victorian transmutation was a testament to architectural ingenious—a three-story addition and conversion to a Victorian terrace, providing a home for a family and a home-office or studio. The premier feature was the light tower, high above the roof with floating stairway, acquiring the essence of the south east and northwestern skies. French style sash windows adorned the main bedroom, while timber casement windows decorate in the bathroom frame the views and filter the light.
However, our beautiful lifestyle was destroyed when our neighbour, a builder, entered the scene next door. Initially welcomed with open arms, his actions soon turned our lives upside down threatening the safety of everyone in the area. Without proper notification, he began demolishing a major supporting wall on our property, the major load supporting wall of our bedroom. At one stage he had setup pipes from his roof diverting water into our office, causing several thousand dollars damage to the upstairs rooms, and undermining the footing of the house.
Additionally to outline the lack of building experience, we through investigation found that the intermediate wall did not meet the legal fire rating, a critical oversight that endangered everyone's safety. Despite our pressing attempts 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, ignoring our concerns and leaving us vulnerable to fire.
In spite of receiving a legal decision in their favour and compensation for the damages incurred, the emotional toll was immeasurable and created many unpleasant memories. They were forced to sell their cherished home, we mourned the loss of our garden refuge, another casualty of government negligence and dodgy building practices. The lack of proper oversight and appropriate governance by government and local council allowed this tragedy to unfold, highlighting the demand for greater accountability and protection for homeowners.
As we grapple with the consequence of this ordeal, we are left to consider: What help do homeowners have when their sanctuaries are made vulnerable by the negligence of others?
When to Start - Pick the Competent and Worst Building Companies in Commonwealth of Australia..?
The Failed, Fugitive, and the ending of Building CompanyBillion Dollar Regime Toplace
from Oct 2023
A Failed adviser played a pivotal part in secured his insolvent company a highly lucrative job — oversight of the collapse of Accused Jean Nassif's business empire, which drowned under liabilities exceeding $1.24 billion, incl. $88.5 million owed to suppliers and onsite builders.
New disclosures about the downfall of Nassif's Toplace group of compaines have come out in documented evidence shown to the Federal Court this month by bankruptcy managers from dVT Group. These papers unveiled that secured creditors such as banks with mortgages, are owed $1 billion.
Additional Relevant Information:
Jean Nassif, and Toplace's Skyview development in Castle Hill.
Creditors without Security, have filed claims with a total estimated quarter of a billion.
Federal Court claims also show that Riad Tayeh, business founder of dVT Group, which was involved in a central responsibility in guaranteeing his firm's appointment as bankruptcy administrators. In spite of being proclaimed insolvent in June 2022 with several million in debt, Tayeh, now a business advisor, and business colleague Antony Resnick went to essential meetings with Toplace top managers in the days leading up to the firm's appointment as bankruptcy managers.
Among those at the meetings on Aug 2020 was Jean Nassif's 29-year-old daughter, Ashlyn, whose Certificate to practice Law has been suspended while she fights charges related to a $150 million fraud bound to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was charged bankrupt in May last year.
Just days before the meetings, a warrant was issued for the arrest of Jean Nassif, 55, who fled Sydney for Dubai in December 2022. Jean and Ashlyn Nassif are accused of fraud to secure a $150 million loan from Westpac.
In June, Resnick and fellow dVT partner Suelen McCallum were appointed voluntary administrators for Toplace. by Jean Nassif, its sole director The bankruptcy managers now face the task of handling one of New South Wales' biggest corporate bankruptcy's.
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. 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 is the web of intercompany loans among Nassif's entities, which amount to $319 million. 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.
The Wall