In an enthusiastic interview with CEO Magazine, which made no mention of the unfortunate Dyldam, Remon was quoted as saying about her new venture, “We’re not like one of the big developers who build homes, sell them and then go with a ‘See you later!’ pulls away. We want us to feel and stay like family to help in any way we can.”
This isn’t the experience of frustrated buyers like Watson-Kyme, whose life has been hanging in the balance for two years. In March 2021, she paid an “off schedule” down payment for a $1.4 million condo in the nearly completed The Laneways development on Mentmore Avenue, Rosebery. Buyers were assured that the 118-unit block would be completed by mid-2021.
However, late last month, The Laneways was faced with another rectification order. Fair Trading records show that Ellerson has prohibition orders on both the Rosebery property and a 24-story building on Parkes Street, Parramatta. The orders mean that professional certificates can only be issued after the clean-up work has been completed.
“We’re in a hideous, stressful situation where we can’t move forward and we can’t get out of it without spending a lot of money to establish a legal relationship with these characters,” said Watson-Kyme.
In her final email to Ellerson, she wrote, “No doubt at some point you will just close up shop and open under a different name, ready to fool people like me again.”
Company research shows that the two registered development companies for both Ellerson developments have Sam Fayad as sole director and the company address is the Dyldam office. Remon resigned as director of the Rosebery company last month, Fayad previously resigned as director.
Meanwhile, Sam Fayad’s wife Maria and her brother Joe Khattar, co-founder of Dyldam, recently lost a major court battle over their late brother’s estate. When he died in April 2010, 44-year-old George Khattar was worth more than $100 million through his 25 percent stake in the Dyldam Group.
For more than a decade, George’s widow, Carol, and his daughters, Georgia and Alana, have battled the estate’s executors, George’s sister, Maria, and brother, Joe. The siblings previously settled the dispute by promising Carol 20 homes in the Hills Shoppingtown project. However, it also went to the administration and Carol received nothing.
Last month the Court of Appeal ruled against Joe Khattar and his sister Maria. “It was a nightmare to enforce the debt,” which now totals about $20 million, said Carol’s attorney Jonathan O’Loughlin of the O’Loughlin Westhoff law firm. The siblings’ assets were frozen.
“I’m family, these girls are her blood. How could they let us down?” Carol Khattar told that herald.
The Fayads have been asked to comment.
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