Canberra developer Michael Koundouris has settled a long-running legal stoush stemming from defects in the 32-apartment Manhattan building in Turner.
Residents said they had recently reached a settlement with Mr Koundouris to fix issues at the apartment, although could not comment further because the details were confidential.
In 2015, the ACT Civil and Administrative Appeals Tribunal identified a number of issues plaguing the building, such as significant cracks in the building's façade, and corrosion of steel beams holding-up a concrete slab above the basement car park.
Resident Ed Purrer, who is a former chair of the Manhattan building's body corporate, confirmed a confidential agreement had been made with Mr Koundouris and Access Canberra.
"We reached a confidential agreement, through mediation, and the three parties have agreed to it," he said.
"It's important that Access Canberra were a party to this as well."
Another resident described the agreement as bittersweet, saying many who lived in the apartment had lost their appetite for the legal battle and just wanted to move ahead with repair work.
A representative of Mr Koundouris said the confidentiality clause stopped him from commenting on the terms of the settlement.
"The Manhattan Apartments settlement deed was signed by the parties on 31 March 2017. The deed contains a non-disclosure confidentiality clause about its terms," the representative said.
"I am therefore unable to answer your request."
A spokeswoman for Access Canberra said the government was a party to the agreement through the Construction Occupations Registrar, who oversees construction work in the territory.
"...an arrangement was reached with the parties - builder, owners and the-then registrar - with a confidential deed being signed," she said.
The ACT government first issued a rectification order against Mr Koundouris in late 2013, with the ACT Civil and Administrative Appeals Tribunal backing this decision in 2015.
Mr Koundouris argued the problems were a result of faulty maintenance, rather than faulty construction, and said at the time that he would appeal the tribunal's decision.
Last month Mr Koundouris lost a separate legal bid to overturn a $1 million court order for defective work at the Lagani Apartments in Braddon's Fawkner Street.
The owners corporation sued the developer in the ACT Supreme Court for a number of defects on the building, including significant waterproofing defects on balconies, in bathrooms, and the roof, structural-steel corrosion, and cracked masonry.
The owners said the water leaks and other defects became obvious in 2001 and Mr Koundouris had investigated and conducted repairs on the building between 2001 and 2009.
The critical factor in the case was time as the building had been completed in 2000 but the lawsuit not launched until 2010.
The statutory warranty period for the building work in the ACT is five years. But the parties dispute when that five-year period should start.
Mr Koundouris argued the case was out of time as it had been brought outside the warranty period and the Limitations Act.
His lawyers said time should start accruing when the owners either knew or ought to have known about the problems with the building.
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