Over the past month, several reports have emerged about apartment owners being stung by huge costs, and being embroiled in legal battles, relating to dangerous flammable cladding that now must be removed. Last month, The AFR reported that owners in one Pyrmont apartment complex in Inner Sydney are facing a $7 million bill to have dangerous flammable cladding replaced, with each owner facing a $10,000 levy per quarter instead of the current $3000 for at least five years. A week ago, owners of the 328 apartments in Melbourne’s Lacrosse residential tower launched legal action against builder LU Simon to recoup an estimated $10.7 million in recladding costs, $1 million in lost rent and emergency accommodation costs and over $500,000 in insurance premium hikes. Then over the weekend, it was reported that a major Melbourne building company facing millions of dollars in claims for flammable cladding went bust, leaving apartment owners with $3.8 million in rectification costs. Yesterday, The Age reported that the result of the Lacrosse residential tower case could set a precedent for at least 100 other Victorian buildings where flammable cladding needs to be removed, with the builder ad...