One of the nation’s biggest privately owned building companies, Dyldam, lies in financial ruin, with the bitter feuding between its former owners resulting in lawsuits, bankruptcy actions and one family matriarch criminally charged with trying to run over her nephew in its offices’ car park.
Subcontractors weren’t paid, buildings were defective and time and time again, having made a handsome construction profit, Dyldam-related companies collapsed, owing creditors, including the Australian Tax Office , millions of dollars.Maria Fayad and her husband Sam Fayad.Since then, Sam’s sons Remon and Fayad Fayad, both former executives at Dyldam, established a fresh development company,
Joe Khattar with his wife Chahida, who was prosecuted for trying to run over a nephew in the Dyldam car park.Dyldam’s merry-go-round of corporate collapses was like a game of whack-a-mole, Hathway said. “A head pops up, you hit it, and another one pops up. They just create more and more companies to deceive the system.”
Sam Fayad, 64, and Joe Khattar, 75, no longer speak. Fayad is already bankrupt while his wife Maria and Joe, her brother, are being pursued by their sister-in-law Carol and nieces Georgia and Alana for a $21 million debt. As a result of an earlier court battle in 2016, it was agreed that Carol would be paid by transferring 20 apartments from a development in Baulkham Hills. However, the company Hills Shoppingtown collapsed, leaving Carol empty-handed.The Supreme Court later heard that Sam Fayad had entered into complex loan agreements with related companies, which had left Hills Shoppingtown with what was described as “a crippling debt” of around $350 million.