Latest news with #Fayad
Nahar Net
19-05-2025
- Politics
- Nahar Net
Fayad: We won't accept that our people be left unprotected
by Naharnet Newsdesk 7 hours Hezbollah MP Ali Fayad warned Monday that 'the military, political and financial pressures that Lebanon is facing are expected to escalate,' noting that some sides mistakenly think that 'their escalation will push the Lebanese people to surrender.' 'These are wrong calculations, because threats boost the Lebanese society's firmness and readiness to defend itself,' Fayad added. 'Hezbollah is showing full readiness for cooperation for the sake of a salvation course that leads to recovery, stability and reform, but it will strongly reject any attempt to impose political conditions that harm Lebanese sovereignty or aim to remove the right of the Lebanese to defend themselves,' the MP said. 'The complications of the current period necessitate further responsibility and firmness,' Fayad went on to say, calling for 'adhering to national unity.' He added: 'What increases the fears of the Lebanese is the fall of international guarantees, especially from the two countries sponsoring the implementation of Resolution 1701.' Accusing the U.S.-led ceasefire committee of 'full bias' in Israel's favor, Fayad said 'the gateway to stability and recovery in Lebanon begins by pressing Israel to withdraw from the five hills, halt hostilities, release the captives, respect Lebanese sovereignty and lift the obstacles in the way of reconstruction.' Moreover, Fayad said 'Hezbollah has positive intentions for cooperating with the government within the context of dialogue and understanding, with the aim of building state institutions and enabling them to perform their missions. But we will not accept or tolerate that some leave our people out in the open, without any protection, guarantees or capabilities.' 'Protecting the Lebanese people is the state's duty, as per its ministerial statement and presidential inauguration speech, and it needs to commit to its sovereign role in safeguarding national rights,' the lawmaker added.
Nahar Net
19-05-2025
- Politics
- Nahar Net
Fayad: We won't accept that our people be left unprotected
by Naharnet Newsdesk 19 May 2025, 13:58 Hezbollah MP Ali Fayad warned Monday that 'the military, political and financial pressures that Lebanon is facing are expected to escalate,' noting that some sides mistakenly think that 'their escalation will push the Lebanese people to surrender.' 'These are wrong calculations, because threats boost the Lebanese society's firmness and readiness to defend itself,' Fayad added. 'Hezbollah is showing full readiness for cooperation for the sake of a salvation course that leads to recovery, stability and reform, but it will strongly reject any attempt to impose political conditions that harm Lebanese sovereignty or aim to remove the right of the Lebanese to defend themselves,' the MP said. 'The complications of the current period necessitate further responsibility and firmness,' Fayad went on to say, calling for 'adhering to national unity.' He added: 'What increases the fears of the Lebanese is the fall of international guarantees, especially from the two countries sponsoring the implementation of Resolution 1701.' Accusing the U.S.-led ceasefire committee of 'full bias' in Israel's favor, Fayad said 'the gateway to stability and recovery in Lebanon begins by pressing Israel to withdraw from the five hills, halt hostilities, release the captives, respect Lebanese sovereignty and lift the obstacles in the way of reconstruction.' Moreover, Fayad said 'Hezbollah has positive intentions for cooperating with the government within the context of dialogue and understanding, with the aim of building state institutions and enabling them to perform their missions. But we will not accept or tolerate that some leave our people out in the open, without any protection, guarantees or capabilities.' 'Protecting the Lebanese people is the state's duty, as per its ministerial statement and presidential inauguration speech, and it needs to commit to its sovereign role in safeguarding national rights,' the lawmaker added.
The Age
04-05-2025
- Business
- The Age
Sydney's Fayad family, a $3b trail of debt and their new plan to avoid creditors
In their six-car garage are three Ferraris, an Aston Martin and another car. Forcing the sale of the property is I Properties, which holds a mortgage over the house. According to Fayad's 142-page statement of affairs filed for his bankruptcy, I Properties has loaned him more than $21 million. However, Rami Ayoub, sole director and shareholder of I Properties, has been alleged in court to be a front for the Fayads. Corporate documents list the company's registered office as that of Sam Fayad's longtime tax lawyers, Pope and Spinks. How Ayoub's company came to lend that amount of money to Sam and Maria Fayad remains a mystery, as there have been numerous caveats lodged on Ayoub's own properties by State Revenue NSW for unpaid taxes. Ayoub, who has twice staved off bankruptcy, runs a business associated with recycled tyres. In 2019, he offered a property owned by his company, Sustainable Rubber Technologies, as security for $1 million to obtain bail for his relative Torek Ayoub, who was facing charges of being an accessory after the fact to the killing of 15-year-old Brayden Dillon. Torek, 29, was gunned down in Parramatta last August. Rami Ayoub, 58, as the vendor of the Fayads' Constitution Hill mansion, has determined it will be sold by 'expressions of interest'. Prospective buyers have until 5pm on Monday to submit offers. Last month, Federal Court Justice Angus Stewart granted a freezing order preventing nine defendants – including Sam Fayad, his two sons, several related companies and Ayoub's company, I Properties – from disposing of certain assets as the liquidator of another collapsed Fayad company, Special Gold, chases them for $33 million. The Constitution Hill property, however, was not listed as one of the assets. The judge noted there was a claim against I Properties for payment of $740,000 and that 'the director of that company, Rami Ayoub, appears to act on behalf of or on the instructions of the Fayad family'. The 'Special Gold' dispute The Special Gold proceedings, which are being funded by the ATO, relate to the $74 million sale of a building owned by the company in Parramatta. In late 2020, Fayad's now estranged business partner and brother-in-law Joe Khattar, also now bankrupt, took legal action over the proposed sale of the Argyle Street property. The court heard that without her knowledge, Khattar's wife Chahida had been removed as a director of Special Gold and replaced by her brother Sam Fayad. Loading Khattar was also furious that Special Gold had agreed with the ATO to use the sale of Argyle Street to pay off Fayad's various tax debts and the debts of several of their associated companies. On December 17, 2020, Supreme Court Justice Ashley Black ordered that the ATO should receive the $33 million it was owed in taxes and penalties, but the rest of the profits from the sale should be frozen. But before the week was out, Sam Fayad is alleged to have breached those orders. The sale of the Parramatta property was finalised on December 22, 2020. Not only was no tax paid, but millions of dollars allegedly flowed into various entities associated with Fayad and his sons. More than $4.5 million of the proceeds went into companies associated with Rami Ayoub. According to land title documents, it appears some of the Argyle Street proceeds were used by I Properties to buy a property in Carlingford from another of the Fayads' failed companies. A decade ago, a Herald investigation revealed that Fayad had an aversion to paying tax. Dozens of his special-purpose companies would complete a development, having paid his company Dyldam handsomely for construction services, several units would be transferred to family and friends, and then the company would collapse owing the ATO millions of dollars. Frustrated liquidators have expressed their fury at the lack of action by corporate regulators. Prominent liquidator Stephen Hathway, who has previously described Dyldam's directors as 'masterminds of manipulation', has complained that the only penalty Fayad has received is a $6000 fine for failing to provide books and records to another liquidator.
Sydney Morning Herald
04-05-2025
- Business
- Sydney Morning Herald
Sydney's Fayad family, a $3b trail of debt and their new plan to avoid creditors
In their six-car garage are three Ferraris, an Aston Martin and another car. Forcing the sale of the property is I Properties, which holds a mortgage over the house. According to Fayad's 142-page statement of affairs filed for his bankruptcy, I Properties has loaned him more than $21 million. However, Rami Ayoub, sole director and shareholder of I Properties, has been alleged in court to be a front for the Fayads. Corporate documents list the company's registered office as that of Sam Fayad's longtime tax lawyers, Pope and Spinks. How Ayoub's company came to lend that amount of money to Sam and Maria Fayad remains a mystery, as there have been numerous caveats lodged on Ayoub's own properties by State Revenue NSW for unpaid taxes. Ayoub, who has twice staved off bankruptcy, runs a business associated with recycled tyres. In 2019, he offered a property owned by his company, Sustainable Rubber Technologies, as security for $1 million to obtain bail for his relative Torek Ayoub, who was facing charges of being an accessory after the fact to the killing of 15-year-old Brayden Dillon. Torek, 29, was gunned down in Parramatta last August. Rami Ayoub, 58, as the vendor of the Fayads' Constitution Hill mansion, has determined it will be sold by 'expressions of interest'. Prospective buyers have until 5pm on Monday to submit offers. Last month, Federal Court Justice Angus Stewart granted a freezing order preventing nine defendants – including Sam Fayad, his two sons, several related companies and Ayoub's company, I Properties – from disposing of certain assets as the liquidator of another collapsed Fayad company, Special Gold, chases them for $33 million. The Constitution Hill property, however, was not listed as one of the assets. The judge noted there was a claim against I Properties for payment of $740,000 and that 'the director of that company, Rami Ayoub, appears to act on behalf of or on the instructions of the Fayad family'. The 'Special Gold' dispute The Special Gold proceedings, which are being funded by the ATO, relate to the $74 million sale of a building owned by the company in Parramatta. In late 2020, Fayad's now estranged business partner and brother-in-law Joe Khattar, also now bankrupt, took legal action over the proposed sale of the Argyle Street property. The court heard that without her knowledge, Khattar's wife Chahida had been removed as a director of Special Gold and replaced by her brother Sam Fayad. Loading Khattar was also furious that Special Gold had agreed with the ATO to use the sale of Argyle Street to pay off Fayad's various tax debts and the debts of several of their associated companies. On December 17, 2020, Supreme Court Justice Ashley Black ordered that the ATO should receive the $33 million it was owed in taxes and penalties, but the rest of the profits from the sale should be frozen. But before the week was out, Sam Fayad is alleged to have breached those orders. The sale of the Parramatta property was finalised on December 22, 2020. Not only was no tax paid, but millions of dollars allegedly flowed into various entities associated with Fayad and his sons. More than $4.5 million of the proceeds went into companies associated with Rami Ayoub. According to land title documents, it appears some of the Argyle Street proceeds were used by I Properties to buy a property in Carlingford from another of the Fayads' failed companies. A decade ago, a Herald investigation revealed that Fayad had an aversion to paying tax. Dozens of his special-purpose companies would complete a development, having paid his company Dyldam handsomely for construction services, several units would be transferred to family and friends, and then the company would collapse owing the ATO millions of dollars. Frustrated liquidators have expressed their fury at the lack of action by corporate regulators. Prominent liquidator Stephen Hathway, who has previously described Dyldam's directors as 'masterminds of manipulation', has complained that the only penalty Fayad has received is a $6000 fine for failing to provide books and records to another liquidator.
Ya Libnan
20-03-2025
- Politics
- Ya Libnan
Former Energy minister Fayad questioned over Mseilah dam
The first investigating judge in North Lebanon, Samaranda Nassar, who ordered the Mseilha Dam to be sealed off in August 2024, questioned former energy minister Walid Fayad in the case of the Msaylha dam project. Designed to hold up to 6 million cubic meters of water and supply villages in the region, the Mseilha Dam in northern Lebanon has faced leak issues since it was filled at the end of 2019. It has now been sealed off. The Mseilha Dam Few dam projects in Lebanon escape controversy. Located on the Jaouz River in the Batroun Caza in the north of the country, the Mseilha dam is no exception. Judge Nassar, ordered the dam to be sealed off in August 2024, although $64 million had already been spent on its construction, which began in 2014. On her visit to the site, the Lebanese magistrate found the dam abandoned, filled with derelict construction equipment, and occupied only by a janitor and his chicken farm. The financial prosecutor's office had referred the case to Judge Nassar to investigate suspected misappropriation of public funds. Fayad was questioned for 2 hours and might be summoned for further interrogation according to Lebanese media Nassar will also summon other former energy ministers, including Raymond Ghajar and Nada al-Bustani. According to media reports, Nassar has charged the executive and consulting firms related to the project, including foreign companies, in order to determine how the $64 million dollars was spent. The big lie: Gebran Bassil promised 24/ 24 electricity days after he was appointed the energy minister in 2011, but never delivered Fayad, Ghajar, and Bustani are all members of the Free Patriotic Movement (FPM) which was founded by former president Michel Aoun and is currently being headed by Aoun's son-in-law, former energy minister Gebran Bassil who held the post from 2011 to 2014 and promised 24 hour, electricity. After $60 billion in subsidies, the electricity company in Lebanon provides fewer hours of electricity than it did in 2011. Ever since 2011 FPM monopolized the ministry and refused to allow any party to take it over
