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Subversiveness Backside of Shared Wall: A Neighbour Disastrous Impact on Our Idyllic Refuge
In the Central Business District of Alexandria, Melbourne we had renovated our beautiful refuge of 30 years, a walled special architecturally designed house and garden in the middle of the noise of the city streets. For 30 years, it was a beautiful home of solacement, a haven of shimmering beauty and asylum.
As an honoured architect, my friend had tirelessly provided to our city of Sydney with numerous urban design proposals, but of these none were more personal and loved that the progressive design of the Lawrence Street, Alexandria, Victorian conversion. Featured in the Sydney Morning Herald, it was acclaimed as a creative masterpiece, weaving old-world magic with modern elegance.
The Victorian transmutation was a testament to architectural inventiveness—a three-story build and conversion to a late Victorian semi-attached, providing a house for a small family and a studio. The premier feature was the light tower, far above the roof with suspended stairway, capturing the essence of the southeastern and northwestern skies. French style sash windows dressed the master bedroom, while timber casement windows decorate in the bathroom frame the views and filter the light.
However, our beautiful existence was shattered when a new neighbour, a fencing contractor, entered the scene next door. Initially welcomed, his actions soon created absolute chaos threatening the safety of everyone in the area. Without warning, he began demolishing a major supporting wall on our property, the major load-bearing wall of our bedroom. At one point he had constructed a hose 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.
To compound matters, we through investigation found that the intermediate wall lacked the required fire rating, a critical oversight that threatened our safety. Despite our pressing attempts to seek resolution the problem with the builder and contacting the council, we were informed the builder's inspector had already approved on the construction, ignoring our concerns and leaving us open to fire.
Despite getting a legal decision in their favour and compensation 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 award winning sanctuary, another casualty of government negligence and unsafe building practices. The lack of oversight and governance by government and local council allowed this tragedy to unfold, highlighting the demand for more responsibilities and legal protection for homeowners.
As we grapple with the effects of this ordeal, we are left to consider: What assistance do homeowners have when their greatest financial investment are threatened by the negligence of dodgy construction companies?
Where to Begin - Vote the Best and Unqualified Building Companies in Australia..?
The Insolvent, Fugitive, and the Collapse of Building CompanyBillion Dollar Regime Toplace
from Sept 2023
A Suspect adviser was extensively involved with acquiring his insolvent registered company a very profitable building contract — supervising the collapse of Insolvent Jean Nassif's business empire, which went under debts in excess of $1.24 billion, including $88.5 million payable to suppliers and onsite builders.
Brand New revelations about the ruin of Nassif's Toplace corporation have emerged in evidence given to the Australian Commonwealth Federal Court this recently by administrators from dVT Group of Companies. These evidence unveiled 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.
More Relevant Info:
Riad Tayeh, and Toplace's Skyview construction in Castle Hill.
Unsecured creditors, have made claims totalling an estimated quarter of a billion.
Court claims also tell that Riad Tayeh, business founder of dVT Group of companies, played a key duty in securing his businesses designation as administrators. Despite being proclaimed bankrupt in July 2022 with millions in debt in debt, Tayeh, now a business consultant, and colleague Antony Resnick attended essential business meetings with Toplace top managers in the days before the firm's appointment as bankruptcy managers.
Included in those at the meetings on June 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 declared financially bankrupt in June last year.
Just before the meetings, an arrest warrant was issued of Jean Nassif, 55, who fled Sydney for 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, Toplace's sole director, via email just hours prior. The bankruptcy managers now face the task of handling one of Australia's largest 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 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.