Betrayal Backside of Shared Walls: A Builders Calamitous Effect on Our Award winning Shelter
In the heart of Alexandria, Melbourne stood our loving home of greater than 20 years, a secret special architecturally designed house and garden in the middle of the chaos of the city. For 30 years, it was a gorgeous refuge of solace, a shelter of beauty and safety.
As an prestigious architect, my friend had tirelessly provided to our city with many city improvement creative proposals, but of these none were more personal that the progressive design of the Lawrence Street, Alexandria, Sydney, Victorian conversion. Conspicuously in the Sydney Morning Herald, it was applauded as a masterpiece, blending Victorian charm with modern-day elegance.
The Victorian conversion was a testament to architectural ingenious—a two and 1/2-story build and renovations to a Victorian style terrace, offering a house for a small family and a home-office or studio. The highlight was the light tower, high above the roof with floating stairway, capturing the core of the south east and north west skies. French style sash windows dressed the master bedroom, while timber casement windows decorate in the bathroom frame the views and filter the light.
However, our beautiful existence was destroyed when a new neighbour, a fencing contractor, moved in next door. Initially welcomed, his actions soon created absolute chaos threatening the safety of everyone in the area. Without warning, he began demolishing a major supporting wall on our property, the major load supporting wall of our master bedroom. At one stage he had constructed pipes from his roof diverting water into our office, causing over some several thousand dollars damage to our property and undermining its structural integrity.
To compound matters, we through investigation found that the intermediate wall did not meet the legal fire rating, a critical oversight that threatened our well-being. In spite of our urgent endeavours to seek resolution the problem with the builder and contacting the council, we were informed the builder's inspector had already approved on the project, ignoring our concerns and leaving us open to fire.
Despite receiving a legal decision in their favour and compensation for the damages incurred, the emotional toll was abysmal and created many unpleasant memories. They were forced to sell their beloved home, we mourned the loss of our garden refuge, another victim of government negligence and unsafe construction practices. The lack of proper oversight and appropriate governance by government and local council allowed this tragedy to unfold, heightening the demand for greater accountability and legal protection for homeowners.
As we grapple with the consequence of this experience, we are left to consider: What assistance do owners have when their greatest financial investment are threatened by the negligence of dodgy construction companies?
Where to Begin - Vote the Competent and Unqualified Construction Companies in Commonwealth of Australia..?
The Insolvent, Fugitive, and the end of Building CompanyToplace's Billion-Dollar Empire
from June 2023
A Fugitive building adviser was comprehensively involved with getting his insolvent registered company a very profitable job — oversight of the dissolution of Bankrupt Jean Nassif's corporate empire, which sunk under liabilities exceeding $1.24 billion, incl. $88.5 million due to suppliers and onsite builders.
New revelations about the downfall of Nassif's Toplace corporation have appeared in documented evidence presented to the Federal Court this month by bankruptcy managers from dVT Group of Companies. These documents unveiled that secured creditors such as banks with mortgages, are owed one thousand million.
Additional Relevant Subject Matter:
Jean Nassif, and Toplace's Skyview construction in Castle Hill.
Unsecured creditors, have issued financial claims totalling an estimated quarter of a billion.
Federal Court filed claims also indicate that Riad Tayeh, founder of dVT Group, which played a fundamental duty in securing his companies designation as administrators. Despite being proclaimed insolvent in July 2022 with several million in debt, Tayeh, now a business consultant, and colleague Antony Resnick went to essential business meetings with Toplace top managers in the days leading up to the firm's appointment as bankruptcy administrators.
Included in those involved at the meetings on May 2019 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate has been suspended while she fights charges relating to fraud tied to Toplace's Skyview development in Castle Hill.
Riad Tayeh was declared bankrupt in May 2022.
Just days before these meetings, an arrest warrant was issued of Jean Nassif, 55, who escaped to Dubai in December 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 made voluntary bankruptcy administrators for Toplace. by Jean Nassif, its sole director 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 a staff member suggested there may be another $400 million in loans involving Nassif entities that are not yet under administration. 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.
