Please be advised that the recent announcement of the liquidation of the Cosmopolitan Constructions entity in NSW has not and will not have any impact on the Cosmopolitan Living entity in Qld. Cosmopolitan Living Qld has been trading successfully for many years in Qld and is a separately owned and operated business. The Qld operation is totally independent from the NSW operations.
For any Qld enquiries please phone 1800 997 887
After taking independent advice and considering all alternatives, it is with much regret that Perry Condoleon as (The Director) of the Company, has resolved to place Cosmopolitan Constructions into voluntary liquidation on the 4th of November 2011.
In the Financial Year 2010/2011 Cosmopolitan
Constructions operated a profitable Contract Home Building division in NSW,
however the company has recently incurred significant margin erosion in its
Projects division. During these difficult times, The Director acknowledges and
deeply regrets that this situation will cause financial hardship and
inconvenience to our staff, retail customers, corporate developers, suppliers
and tradespeople. For your information, affected parties please note the
following
Christopher Darin and Nick Malanos
from Worrells have been appointed as joint
liquidators. Representatives from Worrells will be in
contact with affected parties shortly. Otherwise,contact the above noted individuals on (02) 9249
1200 re further enquiries.
Staff have been terminated with all wages and
superannuation entitlements due paid to date. The balance of staff entitlements
will be paid in due course by the liquidator, based on funds held, receivables
recovered or through the government scheme (GEERS). The Director takes this
opportunity to thank all our loyal staff for their energy, commitment and
efforts.
The Director is deeply regretful to all suppliers and tradespeople, who have
been loyal, hard working and supportive of
Cosmopolitan Constructions for many years. The Director will do his utmost to
assist the Liquidator as requested to maximise payments to creditors.
The vast majority of clients with works in progress, and most with homes
about to commence,should be
covered by the home warranty insurance scheme. This is administered by S1CORP
and should ensure the completion of your home or project. Notwithstanding, you
are welcome to contact the liquidators for further information. Upon request,
it is expected that the liquidators will be able to forward a file with all
relevant client information within the fortnight.
Where construction has not commenced and no home warranty insurance exists,to the extent that the intellectual property is Cosmopolitan Constructions, it will be assigned to clients to allow them to proceed with a builder of their choice. Once again, it is expected an information pack with relevant client information will