Betrayal Backside of Connected Wall: A Neighbour Fateful Effect on Our Award winning Shelter
In the CBD of Alexandria, Melbourne stood our loving refuge of some greater than 20 years, a walled award winning house and garden in the centre of the storm of the city streets. For over 20 years, it was a loving sanctuary of comfort, a shelter of shimmering beauty and asylum.
As an esteemed architect designer, my friend had tirelessly provided to our city of Sydney with numerous urban proposals, but of these none were more personal and loved that the modern design of the Lawrence Street, Sydney, Australia, Victorian style conversion. Featured in the Sydney Morning Herald, it was acclaimed as a creative masterpiece, blending Victorian charm with neo elegance.
The Victorian conversion was a creed to architectural ingenious—a three-story build and conversion to a Victorian terrace, providing a home for a family and a studio. The highlight was the light tower, high above the roof with floating stairway, acquiring the core of the southeastern and northwestern 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 shattered when a new neighbour, a builder, entered the scene next door. Initially welcomed with open arms, 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 major load-bearing wall of our master bedroom. At one period of time he had setup 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 discovered that the intermediate wall did not meet the legal fire rating, a major oversight that endangered our well-being. Despite our urgent attempts to rectify the problem with the neighbour's and contacting the council, the council said the builder's inspector had already approved on the project, providing no recourse and leaving us open to fire.
In spite of getting a legal judgement in their favour and recompense for restitution, the emotional toll was immeasurable and created many unpleasant memories. They decided to sell their beautiful home, we mourned the loss of our garden refuge, another casualty of proper government oversight and dicey construction practices. The lack of oversight and appropriate governance by local government allowed this tragedy to unfold, heightening the need for greater accountability and protection for homeowners.
As we grapple with the consequence of this ordeal, we are left to ponder: What recourse do house owners have when their greatest financial investment are made vulnerable by the carelessness of dodgy builders?
Where to Start - Vote the Best and Inept Building Companies in Commonwealth of Australia..?
The Insolvent, Defendant, and the ending of Building CompanyToplace's Billion-Dollar Empire
from June 2023
A Fugitive adviser was deeply concerned with getting his insolvent business a very lucrative job — supervising the dissolution of Bankrupt Jean Nassif's business empire, which went under debts surpassing $1.24 billion, incl. $88.5 million due to suppliers and sub-contractors.
Brand New disclosures about the ruin of Nassif's Toplace corporation have appeared in evidence given to the Federal Court this recently by bankruptcy administrators from dVT Group of Companies. These evidence reveal that secured creditors such as banks with mortgages, are owed one thousand million.
Additional Relevant Information:
Riad Tayeh, Jean Nassif, and Toplace's Skyview building development in Castle Hill.
Unsecured creditors, have filed claims with a total estimated quarter of a billion.
Australian Federal Court claims also indicate that Riad Tayeh, founder of dVT Group, which was involved in a fundamental role in securing his businesses designation as administrators. In spite of being proclaimed insolvent in May last year with several million in debt, Tayeh, now a business consultant, and business colleague Antony Resnick went to crucial business meetings with Toplace top managers in the period before the firm's appointment as administrators.
Among those at the meetings on July 2020 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate has been suspended while she fights charges relating to fraud bound to Toplace's Skyview construction development in Castle Hill.
Riad Tayeh was legally financially bankrupt in July 2022.
Just days before these meetings, a warrant was issued for the arrest of Jean Nassif, 55, who escaped to Dubai in November 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 nominated voluntary bankruptcy administrators for Toplace. by Jean Nassif, its sole director The bankruptcy administrators now face the task of handling one of NSW's biggest corporate bankruptcy's.
According 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 The administrators noted difficulty in unravelling the debt due to "intermingling of financial records," 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.
