Seems the Mascot Towers repair bill is to hit $53 million which is very sad news for all involved. This has got me thinking if the strata company spreads out $53 million to all owners and invoices them and the owners don't pay, can the strata company take legal action or bankrupt the people? I believe all owners are jointly and severally liable in a strata complex. Eg. if someone falls and sues (say insurance won't cover and pay for whatever reason) and none of the people have any money except for one person with $10 million in cash, they can just get the money from that one person who's rich with $10mil in cash. Is my understanding correct? Seems we need to consider asset protection even more when buying anything with strata.