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Subversiveness Backside of Connected Partition: A Neighbour's Disastrous Impact on Our Award winning Shelter

In the CBD of Alexandria Melbourne, Australia we had renovated our gorgeous sanctuary of some greater than 20 years, a walled garden amidst the noise of its streets. For 30 years, it was a beautiful refuge of comfort, a oasis of shimmering beauty and sanctuary.

As an esteemed architect designer, my friend had donated to our city with numerous urban design proposals, but of these none were more personal and loved that the progressive design of the Lawrence Street, Alexandria, Sydney, Victorian. Conspicuously in the Sydney Morning Herald, it was applauded as a creative masterpiece, weaving old-world appeal with modern elegance.

The Victorian conversion was a creed to architectural ingenious—a two and ½-story build and renovations to a Victorian style semi-attached, offering a house for a family and a studio. The premier feature was the light tower, far above the roof with floating stairway, acquiring the essence of the southeastern and north west skies. French sash windows adorned the master bedroom, while timber casement windows embellish in the bathroom frame the views and filter the light.

However, our beautiful lifestyle was destroyed when our neighbour, a fencing contractor, entered the scene next door. Initially welcomed with open arms, 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-bearing wall of our bedroom. At one period of time he had setup a hose from his roof diverted water into our upstairs studio, causing several thousand dollars damage to our property and undermining its structural integrity.

Further to outline the lack of building experience, we through investigation found that the intermediate wall lacked the required fire rating, a critical omission that endangered everyone's safety. Despite our urgent endeavours to seek resolution the problem with the builder and contacting the council, we were informed the builder's inspector had already signed off on the construction, ignoring our concerns and leaving us open to harm.

In spite of getting a 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 unsafe building practices. The lack of oversight and governance by government and local council created the environment for this tragedy to unfold, heightening the need for more extensive accountability and legal protection for owners.

As we wrestle with the consequence of this ordeal, we are left to ponder: What help do house owners have when their greatest financial investment are threatened by the negligence of dodgy builders?

When to Commence – Pick the Qualified and Inept Building Companies in Australia..?

The Failed, Accused, and the end of Building CompanyToplace's Billion-Dollar Empire

from June 2023

A Suspect building consultant was deeply solicitous with getting his insolvent company a very lucrative construction contract — managing the dissolution of Accused Jean Nassif's corporate empire, which drowned under liabilities exceeding $1.24 billion, incl. $88.5 million owed to suppliers and onsite builders.

New disclosures about the failure of Nassif's Toplace group have surfaced in evidence presented to the Federal Court this recently by administrators from dVT Group. These documents show that secured creditors such as banks with mortgages, are owed one thousand million.

Additional Relevant Subject Matter:

Riad Tayeh, and Toplace's Skyview building development in Castle Hill.

Unsecured creditors, have made claims with a total est. $244 million. Court claims also tell that Riad Tayeh, business founder of dVT Group, which played a fundamental role in assuring his businesses assignment as bankruptcy administrators. Despite being proclaimed financially bankrupt in May last year with millions in debt in debt, Tayeh, now a consultant, and colleague Antony Resnick went to essential meetings with Toplace executives in the period leading up to the firm's appointment as administrators. As well as those attending the meetings on July 2020 was Jean Nassif's 29-year-old daughter, Ashlyn, whose legal certificate has been suspended while she fights charges related to a $150 million fraud tied to Toplace's Skyview building development in Castle Hill.

Riad Tayeh was legally financially bankrupt in June 2022.

Just days before these meetings, an arrest warrant was issued of Jean Nassif, 55, who fled Sydney for Dubai in December 2022. Jean and Ashlyn Nassif are accused of creating false documentation to secure a $150 million loan from Westpac.

In June, Resnick and fellow dVT partner Suelen McCallum were made voluntary administrators for Toplace. by Jean Nassif, Toplace's sole director, via email just hours prior. The bankruptcy managers now face the task of handling one of New South Wales' 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. Administrators are also investigating more than 3,000 residential apartments still under development.

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.

Paul Meek,