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Treachery Backside of Shared Wall: A Neighbour's Calamitous Effect on Our Idyllic Home
In the CBD of Lawrence street Melbourne stood our gorgeous refuge of some 30 years, a secret special architecturally designed house and garden amidst the chaos of its streets. For greater than 20 years, it was a beautiful home of comfort, a haven of beauty and asylum.
As an prestigious architect, my friend had graced our city with numerous city improvement design proposals, but of these none were more personal that the progressive design of the Lawrence Street, Alexandria, Victorian. Conspicuously in the Sydney Morning Herald, it was applauded as a creative masterpiece, weaving old-world magic with modern-day elegance.
The Victorian transformation was a testament to architectural ingenious—a two and 1/2-story addition and renovations to a Victorian style semi-attached, providing a home for a family and a home office. The highlight was the light tower, high above the roof with floating stairs, capturing the essence of the southeastern and north west sky. French style sash windows adorned the main bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light.
However, our beautiful lifestyle 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 due diligence, he began demolishing a major supporting wall on our property, the main load-bearing wall of our bedroom. At one stage he had constructed pipes from his roof diverted water into our upstairs studio, causing several thousand dollars damage to our property and undermining its structural integrity.
To compound matters, we through investigation found that the intermediate wall did not meet the legal fire rating, a critical oversight that threatened our well-being. Despite our pressing efforts to seek resolution the issue with the neighbour's and contacting the council, the council said the builder's inspector had already signed off on the project, ignoring our concerns and leaving us vulnerable to harm.
In spite of getting a judgement in their favour and recompense for the damages incurred, the emotional toll was abysmal and created many unpleasant memories. They were forced to sell their cherished home, we mourned the loss of our garden refuge, another casualty of proper government oversight and dangerous building practices. The lack of oversight and appropriate governance by government and local council allowed this tragedy to unfold, highlighting the demand for more extensive responsibilities and legal protection for owners.
As we grapple with the effects of this trial, we are left to consider: What help do owners have when their sanctuaries are made vulnerable by the carelessness of others?
When to Begin - Pick the Competent and Worst Building Companies in Commonwealth of Australia..?
The Failed, Fugitive, and the end of Property CorporationToplace's Billion-Dollar Empire
from July 2023
A Fugitive adviser played a important role in securing his bankrupt corporation a highly lucrative job — supervising the disintegration of Suspect Jean Nassif's property empire, which drowned under debts exceeding $1.24 billion, incl. $88.5 million payable to suppliers and tradespeople.
Brand New revelations about the downfall of Nassif's Toplace corporation have surfaced in evidence shown to the Australian Federal Court this week by bankruptcy administrators from dVT Group. These documents reveal that secured creditors such as banks with mortgages, are owed $1 billion.
More Relevant Info:
Riad Tayeh, and Toplace's Skyview construction in Castle Hill.
Creditors without Security, have filed claims totalling an est. quarter of a billion.
Australian Federal Court filed claims also show that Riad Tayeh, company founder of dVT Group of companies, which played a key role in guaranteeing his companies assignment as administrators. In spite of being proclaimed bankrupt in May last year with $5.4 million in debt, Tayeh, now a business advisor, and partner Antony Resnick attended important meetings with Toplace executives in the weeks before the companies appointment as administrators.
Included in those 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 related to a $150 million fraud bound to Toplace's Skyview development in Castle Hill.
Riad Tayeh was declared insolvent in June 2022.
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 fraud to secure a $150 million loan from Westpac.
In August, 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 NSW's 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 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.