The correct way to handle those problems is to enforce noise and litter regulations. If your owner-neighbor is rowdy, it's no different than if their guests are rowdy.
That's awful. In the US we have misdemeanor noise violations that carry a fine (or jail time if you refuse to pay).
Neighbors will call the police if your party is too rowdy. They'll show up looking for underage drinkers. Usually if you are nice to the cops and promise to be quiet (and everyone they see is 21+) they'll just warn you and not write a ticket.