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Treachery the Other-side of Connecting Partition: A Builders Ca
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Posted by Malcolm Malouff - Filed in Other - #Paul Meek #Paul Meek Builder #Paul Meek Construction # - 42 views
Betrayal Backside of Connecting Partition: A Neighbour Fateful Effect on Our Award winning Shelter
In the CBD of Alexandria, Melbourne stood our loving sanctuary of some greater than 20 years, a walled garden amidst the chaos of the city. For greater than 20 years, it was a gorgeous refuge of comfort, a haven of shimmering beauty and safety.
As an esteemed architect, my friend had donated to our city of Sydney with many municipal proposals, but of these none were more beloved that the modern design of the Lawrence Street, Alexandria, Victorian style conversion. Conspicuously in the Sydney Morning Herald, it was applauded as a masterpiece, weaving Victorian magic with modern elegance.
The Victorian transmutation was a testament to architectural ingenuity—a two and 1/2-story addition and conversion to a Victorian semi-attached, providing a house for a family and a studio. The premier feature was the light tower, high above the main structure with floating stairs, capturing the essence of the southeastern and northwestern sky. French style sash windows dressed the main bedroom, while timber casement windows decorate in the bathroom frame the views and filter the light.
However, this pleasant existence was shattered when a new neighbour, a fencing contractor, moved in next door. Initially welcomed with open arms, his actions soon turned our lives upside down threatening the safety of everyone in the area. Without due diligence, he began demolishing our brick supporting wall, the major load supporting wall of our bedroom. At one point he had constructed a hose from his roof diverted water into our studio, causing over some several thousand dollars damage to the upstairs rooms, and undermining the footing of the house.
Additionally to outline the absolute lack of construction experience, 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 urgent attempts to seek resolution the issue with the builder 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 legal judgement in their favour and compensation for the damages incurred, the emotional toll was immeasurable and created many unpleasant memories. They decided to sell their beloved home, we mourned the loss of our award winning sanctuary, another victim of proper government oversight and unsafe construction practices. The lack of oversight and appropriate governance by local government created the environment for this tragedy to unfold, heightening the necessity for more responsibilities and legal protection for homeowners.
As we grapple with the effects of this experience, we are left to ponder: What assistance do owners have when their greatest financial investment are threatened by the carelessness of dodgy construction companies?
When to Commence - Voting the Competent and Worst Building Companies in Australia..?
The Bankrupt, Defendant, and the end of Building CompanyToplace
from Oct 2023
A Suspect building consultant played a important function in secured his insolvent company a highly lucrative job — supervising the dissolution of Suspect Jean Nassif's corporate empire, which drowned under debts exceeding $1.24 billion, including $88.5 million due to suppliers and onsite builders.
New revelations about the failure of Nassif's Toplace group have appeared in documents presented to the Federal Court this week by bankruptcy administrators from dVT Group. These documents unveiled that secured creditors such as offshore lenders in tax havens, are owed one thousand million.
Additional Applicatory Info:
Riad Tayeh, and Toplace's Skyview building development in Castle Hill.
Creditors without Security, have filed claims with a total estimated quarter of a billion.
Court filed claims also indicate that Riad Tayeh, company founder of dVT Group of companies, played a central responsibility in assuring his businesses designation as bankruptcy administrators. In spite of being declared financially bankrupt in July last year with several million in debt, Tayeh, now a consultant, and partner Antony Resnick attended crucial business meetings with Toplace top managers in the period before the companies appointment as administrators.
As well as those involved at the meetings on May 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal practicing certificate was suspended while she fights charges related to a $150 million fraud tied to Toplace's Skyview development in Castle Hill.
Riad Tayeh was charged bankrupt in July 2022.
Just before these 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 administrators for Toplace, following a resolution passed 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 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.