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Subversiveness Backside of Shared Walls: A Neighbour Disastrous Effect on Our Award winning Shelter
In the CBD of Alexandria, Melbourne we had renovated our gorgeous refuge of some 30 years, a concealed award winning house and garden amidst the chaos of its streets. For 30 years, it was a beautiful place of comfort, a shelter of shimmering beauty and asylum.
As an esteemed architect creator, my friend had tirelessly provided to our city of Sydney with numerous city improvement creative proposals, but of these none were more beloved that the innovative design of the Lawrence Street, Alexandria, Victorian style conversion. Conspicuously in the Sydney Morning Herald, it was applauded as a creative masterpiece, weaving old-world magic with neo elegance.
The Victorian conversion was a creed to architectural creativity—a two-story addition and renovations to a Victorian semi-attached, offering a house for a family and a home-office or studio. The premier feature was the light tower, soaring above the main structure with floating stairs, acquiring the core of the southeastern and northwestern sky. French style sash windows dressed the main bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light.
However, our beautiful existence was shattered when our neighbour, a builder, entered the scene next door. Initially welcomed, 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 major load supporting wall of our bedroom. At one point he had setup a hose from his roof diverting water into our upstairs studio, causing over some several thousand dollars damage to our property and undermining its structural integrity.
Additionally to outline the absolute lack of building experience, we discovered that the intermediate wall lacked the required fire rating, a critical omission that threatened everyone's well-being. In spite of our urgent efforts to rectify the problem with the builder and contacting the council, we were informed the builder's inspector had already approved on the building renovations, providing no recourse and leaving us open to harm.
Despite receiving a judgement in their favour and compensation for restitution, the emotional toll was immeasurable and created many unpleasant memories. They were forced to sell their beloved home, we mourned the loss of our award winning sanctuary, another victim of government negligence and dodgy construction practices. The lack of oversight and appropriate governance by government and local council allowed this tragedy to unfold, highlighting the need for more extensive accountability and legal protection for homeowners.
As we grapple with the consequence of this trial, we are left to consider: What help do house owners have when their greatest financial investment are made vulnerable by the negligence of dodgy construction companies?
When to Commence - Voting the Capable and Unqualified Builders in Commonwealth of Australia..?
The Failed, Accused, and the ending of Building CompanyToplace
from Oct 2023
A Fugitive consultant played a important function in secured his bankrupt firm a highly lucrative job — managing the disintegration of Defendant Jean Nassif's property empire, which went under financial obligations exceeding $1.24 billion, inclusive $88.5 million owed to suppliers and sub-contractors.
Fresh disclosures about the ruin of Nassif's Toplace corporation have appeared in evidence shown to the Federal Court this week by bankruptcy managers from dVT Group. These documents unveiled that secured creditors such as offshore lenders in tax havens, are owed $1 billion.
Further Applicatory Info:
Jean Nassif, and Toplace's Skyview building development in Castle Hill.
Creditors without Security, have made claims with a total est. quarter of a billion.
Court filed claims also indicate that Riad Tayeh, founder of dVT Group, played a key responsibility in securing his businesses appointment as bankruptcy managers. Even though being announced insolvent in May last year with $5.4 million in debt, Tayeh, now a business consultant, and colleague Antony Resnick attended crucial meetings with Toplace top managers in the days leading up to the companies appointment as bankruptcy managers.
As well as those attending the meetings on May 2019 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 bound to Toplace's Skyview building development in Castle Hill.
Riad Tayeh was declared insolvent in June 2022.
Just days before the meetings, a warrant was issued for the arrest of Jean Nassif, 55, who fled Sydney for Dubai in November 2022. Jean and Ashlyn Nassif are accused of fraud 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, Toplace's sole director, via email just hours prior. 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.