Taxpayers cop eye-watering $40m bill in Nicheliving lifeline

An unprecedented and bitter-sweet deal to convince Nicheliving to give up its building licence has sparked hugs and tears of relief from abandoned customers and anger over confirmation that taxpayers will foot the insurance bill of up to $40 million.

Nicheliving directors Ronnie Michel-Elhaj and Paul Bitdurf walk away with their remaining assets and other business streams intact after withdrawing their appeal against proceedings in the State Administrative Tribunal.