Treachery Behind of Connected Wall: A Neighbour Disastrous Impact on Our Peaceful Home
Treachery Behind of Connected Walls: A Neighbour Disastrous Impact on Our Idyllic Home
In the Central Business District of Alexandria, Melbourne we had renovated our loving sanctuary of some 30 years, a secret special architecturally designed house and garden in the centre of the noise of the city streets. For 30 years, it was a gorgeous home of solace, a haven of shimmering beauty and safety.
As an honoured architect, my friend had donated to our city with many city improvement design proposals, but of these none were more beloved that the progressive design of the Lawrence Street, Alexandria, Victorian conversion. Featured in the Sydney Morning Herald, it was applauded as a creative masterpiece, blending Victorian appeal with modern elegance.
The Victorian conversion was a creed to architectural inventiveness—a two-story addition and conversion to a Victorian style terrace, providing a home for a small family and a studio. The premier feature was the light tower, high above the roof with floating stairway, acquiring the core of the southeastern and northwestern skies. French sash windows dressed the main bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light.
However, this pleasant lifestyle was destroyed when a new neighbour, a builder, moved in next door. Initially welcomed with open arms, his illegal actions soon created absolute chaos threatening the safety of everyone in the area. Without due diligence, he began demolishing our brick supporting wall, the main load supporting wall of our bedroom. At one period of time he had setup pipes from his roof diverting water into our office, causing several thousand dollars damage to our property and undermining its structural integrity.
Additionally to outline the lack of construction experience, we discovered that the intermediate wall did not meet the legal fire rating, a major omission that threatened our safety. Despite our urgent efforts to seek resolution the issue 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 vulnerable to fire.
In spite of receiving 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 cherished home, we mourned the loss of our award winning sanctuary, another victim of government negligence and dangerous construction practices. The lack of oversight and appropriate governance by local government allowed this tragedy to unfold, highlighting the necessity for greater accountability and protection for owners.
As we wrestle with the aftermath of this trial, we are left to consider: What recourse do house owners have when their greatest financial investment are made vulnerable by the carelessness of dodgy builders?
Where to Start – Pick the Capable and Incompetent Construction Companies in Commonwealth of Australia..?
The Failed, Defendant, and the ending of Building CompanyToplace
from Oct 2023
A Insolvent building adviser played a crucial role in secured his insolvency corporation a highly lucrative job — supervising the dissolution of Accused Jean Nassif's property empire, which drowned under financial obligations exceeding $1.24 billion, inclusive $88.5 million payable to suppliers and onsite builders.
Brand New disclosures about the failure of Nassif's Toplace group have emerged in documented evidence given to the Australian Federal Court this month by administrators from dVT Group of Companies. These documents unveiled that secured creditors such as offshore lenders in tax havens, are owed one thousand million.
Further Applicatory Info:
Jean Nassif, and Toplace's Skyview construction in Castle Hill.
Unsecured creditors, have made claims with a total est. $244 million. Federal Court claims also show that Riad Tayeh, founder of dVT Group of companies, played a key duty in securing his businesses designation as bankruptcy managers. In spite of being proclaimed financially bankrupt in June last year with $5.4 million in debt, Tayeh, now a consultant, and colleague Antony Resnick attended essential business meetings with Toplace executives in the weeks leading up to the companies appointment as administrators. As well as those at the meetings on June 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 tied to Toplace's Skyview development in Castle Hill.
Riad Tayeh was charged financially bankrupt in June last year.
Just days before these meetings, an arrest warrant was issued 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 August, 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 administrators now face the task of handling one of Australia's largest corporate collapses.
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.