Opal Tower Builder, Icon, has won an important legal battle with their insurance providers.
Category: Opal Tower
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The Opal Tower Defects Bill
#OpalTower #Defects #Construction Icon construction only allocated $1 million for defects in Opal Tower. An insufficient amount given that Icon has reportedly spent $24 million already. References Opal Tower builder Icon put aside $1 million for building defects but has spent $24 million so farhttps://mobile.abc.net.au/news/2019-08-28/opal-tower-developer-icon-reveals-24-million-spent-on-repairs/11452742?pfmredir=sm&sf218208758=1 Opal Tower built on ‘bargain basement prices’ — say subcontractorshttps://www.news.com.au/finance/business/other-industries/opal-tower-built-on-bargain-basement-prices-say-subcontractors/news-story/a55d5c6bc396a013f4e82b38252d5890
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Opal Tower Court Case Delayed
#OpalTower #CourtCase #Australia The Opal Tower class action lawsuit has been delayed by 42 days due to the complexity of the class-action lawsuit. Let’s look at the Judges concerns and the portions of the Home Building Act that would be relevant to this case. References https://www.abc.net.au/news/2019-08-09/sydney-opal-tower-class-action-lawsuit-proceedings-delayed/11398794
#OpalTower #Construction #Insurance Opal Towers’ Insurance premiums have increased 20 time and agents are telling us that Buying off the Plan is still in demand! References Opal Tower builder agrees to pay $1.7m insurance https://www.afr.com/property/residential/opal-tower-builder-agrees-to-pay-1-7m-insurance-20190731-p52ci6 Opal Tower fiasco unlikely to dent off-the-plan sales, agent tips https://www.realestatebusiness.com.au/breaking-news/18799-opal-tower-suit-unlikely-to-dent-off-the-plan-demand
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Opal Tower Owner’s Class Action
#OpalTower #Construction #ClassAction The owner’s of Opal Tower have launched a class-action lawsuit against the Sydney Olympic Park Authority (SOPA). This case will certainly be an interesting precedent, particularly if the government pursues cross-claims. References Opal Tower unit owners launch multi-million-dollar class action against NSW State Government https://www.abc.net.au/news/2019-07-29/opal-tower-class-action-suit-by-owners-sydney-olympic-park/11354562
#Opal #UNSW #Strata I look at an article from UNSW outlining a new ARC Linkage Grant project that aims to address the severe and growing concern about building quality issues in the multi-unit housing sector. I wonder if they will look at the procurement methodology for all of the buildings they review? https://youtu.be/9j4CoyYuL_I References After […]
#Opal #ApartmentLiving #Strata I look at an opinion piece by Jimmy Thomson from the Australian Financial Review with advice about finding the perfect Apartment Block. Given the drop in consumer confidence following Opal Tower everyone is going to be extra vigilant. References How to spot a perfectly managed apartment blockhttps://www.afr.com/real-estate/residential/how-to-spot-a-perfectly-managed-apartment-block-20190319-p515j0
#OpalTower #Icon #Failure I look at Engineers Australia’s response to the Opal Tower Disaster and the various government responses. References Events like Opal Tower are shaping the future of engineering and that isn’t a good thing https://www.engineersaustralia.org.au/News/events-opal-tower-are-shaping-future-engineering-and-isnt-good-thing
#OpalTower #Icon #Failure I look at WSP’s response to the Final Report regarding the Opal Tower Failure. Looks like the project was procured via a design and construction methodology with changes made to the approved engineering design. Read More: Why Buildings Stand Up https://amzn.to/2stNb5O Why Buildings Fall Down Why Structures Fail https://amzn.to/2RqpREZ References WSP’S APPROVED […]
#OpalTower #Icon #Failure The final report of the Opal Tower Investigation has been released and we look at an initial ABC article. The good news is that Opal is bringing the systematic failures in our construction industry to light. Read More: Why Buildings Stand Up https://amzn.to/2stNb5O Why Buildings Fall Down Why Structures Fail https://amzn.to/2RqpREZ References […]