In a glowing interview with CEO Magazine,in which no mention was made of the unfortunate Dyldam,Remon was quoted saying of their new company:“We’re not like one of the major developers who builds apartments,sells them and then moves away with a ‘See you later!’ We want that family feel,staying on to help out in any way we can.”
Brothers Remon Fayad and Fayad Fayad.Credit:Twitter
This is not the experience of frustrated purchasers including Watson-Kyme,whose life has been in limbo for the past two years. In March 2021,she paid a deposit “off the plan” for a $1.4 million apartment in the almost completed The Laneways project in Mentmore Avenue,Rosebery. Purchasers were assured the 118-unit block would be completed by mid-2021.
However,at the end of last month,The Laneways was hit with yet another rectification order. Fair Trading records show that Ellerson has prohibition orders on both the Rosebery property and a 24-storey development in Parkes Street,Parramatta. The orders mean occupation certificates cannot be issued until the rectification work is done.
“We are in a hideous,stressful situation where we can’t move forward,can’t get out without spending an awful lot of money having a legal stoush with these characters,” Watson-Kyme said.
In her most recent email to Ellerson,she wrote:“No doubt you will just close up shop eventually and open under a different name,ready to dupe people like me again.”
Corporate searches show that the two registered development companies for both the Ellerson developments have Sam Fayad as the sole director,and the company address is the Dyldam office. Remon resigned as a director of the Rosebery company last month,with Fayad having resigned as a director earlier.
Meanwhile,Sam Fayad’s wife Maria,and her brother Joe Khattar,Dyldam’s co-founder,recently lost a major court battle over their late brother’s estate. When he died in April 2010,George Khattar,44,was worth more than $100 million through his 25 per cent share of the Dyldam group.
Carol Khattar (centre) with her daughters Georgia (left) and Alana. She has successfully sued her late husband’s brother Joe Khattar and his sister Maria Fayad.
For more than a decade,George’s widow Carol and daughters Georgia and Alana have been fighting the executors of the estate,George’s sister Maria and brother Joe. The siblings previously settled the dispute by promising Carol 20 apartments in the Hills Shoppingtown development. However,it too went into administration and Carol received nothing.
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Last month,the Court of Appeal ruled against Joe Khattar and his sister Maria. “It’s been a nightmare trying to enforce the debt,” which is now about $20 million,said Carol’s lawyer Jonathan O’Loughlin,from legal firm O’Loughlin Westhoff. Freezing orders have been placed on the siblings’ assets.
“I am family,these girls are their blood. How could they abandon us?” Carol Khattar told theHerald.
Comment was sought from the Fayads.
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