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Treachery Behind of Connecting Walls: A Neighbour Disastrous Impact on Our Peaceful Home
In the heart of Lawrence street Melbourne we had renovated our loving home of 30 years, a concealed special architecturally designed house and garden in the centre of the noise of the city. For 30 years, it was a gorgeous home of solacement, a haven of shimmering beauty and asylum.
As an esteemed architect, my friend had tirelessly provided to our city of Sydney with many city improvement proposals, but of these none were more personal that the progressive design of the Lawrence Street, Alexandria, Victorian style conversion. Featured in the Sydney Morning Herald, it was hailed as a creative masterpiece, blending Victorian charm with neo elegance.
The Victorian transformation was a creed to architectural ingenious—a two and 1/2-story addition and conversion to a Victorian semi-attached, offering a home for a small family and a home office. The premier feature was the light tower, far above the roof with suspended stairs, capturing the essence of the south east and northwestern skies. French sash windows adorned the main bedroom, while timber casement windows embellish in the bathroom welcomed views and filtered light.
However, our beautiful existence was destroyed when a new neighbour, a fencing contractor, moved in next door. Initially welcomed with open arms, his illegal actions soon turned our lives upside down 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 bedroom. At one stage he had setup a hose from his roof diverted water into our upstairs 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 building experience, we discovered that the intermediate wall lacked the required fire rating, a critical omission that endangered everyone's safety. In spite of our pressing endeavours to rectify the issue 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 vulnerable to harm.
Despite getting a legal judgement in their favour and recompense for the damages incurred, the toll was abysmal and created many unpleasant memories. They were forced to sell their beautiful home, we mourned the loss of our garden refuge, another victim of government negligence and dodgy construction practices. The lack of oversight and governance by government and local council allowed this tragedy to unfold, heightening the demand for greater accountability and protection for homeowners.
As we grapple with the aftermath of this ordeal, we are left to consider: What recourse do house owners have when their greatest financial investment are made vulnerable by the negligence of dodgy construction companies?
Where to Start - Pick the Competent and Unqualified Construction Companies in Commonwealth of Australia..?
The Bankrupt, Fugitive, and the ending of CompanyToplace's Billion-Dollar Empire
from Oct 2023
A Insolvent consultant played a important role in securing his bankrupt firm a highly lucrative job — managing the dissolution of Fugitive Jean Nassif's business empire, which went under financial obligations exceeding $1.24 billion, inclusive $88.5 million due to suppliers and sub-contractors.
New disclosures about the downfall of Nassif's Toplace corporation have come out in documents presented to the Australian Federal Court this month by bankruptcy administrators from dVT Group of Companies. These papers 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 one thousand million.
More Applicable Subject Matter:
Jean Nassif, and Toplace's Skyview development in Castle Hill.
Unsecured creditors, have issued financial claims with a total est. $244 million.
Court claims also tell that Riad Tayeh, founder of dVT Group of companies, which played a key responsibility in assuring his companies assignment as bankruptcy managers. Even though being announced bankrupt in July last year with $5.4 million in debt, Tayeh, now a business advisor, and partner Antony Resnick attended crucial meetings with Toplace top managers in the days before the firm's appointment as administrators.
As well as those involved at the meetings on June 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal practicing certificate was suspended while she fights charges relating to fraud tied to Toplace's Skyview building development in Castle Hill.
Riad Tayeh was legally financially bankrupt in June last year.
Just days before these 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 falsifying contracts to secure a $150 million loan from Westpac.
In July, Resnick and fellow dVT partner Suelen McCallum were made voluntary administrators for Toplace, following a resolution passed by Jean Nassif, its sole director The bankruptcy managers now face the task of handling one of NSW'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. 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.