NSW construction company in liquidation

NSW Fair Trading Minister, Anthony Roberts, said New South Wales Fair Trading would offer every support to consumers affected by the appointment of liquidators to building company Cosmopolitan Constructions Pty Ltd.

Mr Roberts encouraged affected consumers, sub-contractors and suppliers to call a Fair Trading Hotline on 1800 451 301. Fair Trading has also created a Cosmopolitan Constructions page on its website.

"Fair Trading has been in contact with the liquidators and insurers. Fair Trading will work with the liquidators, insurers and other relevant parties to determine as quickly as possible what the situation of the company is and what the best options are for all parties concerned," he said.

"Fair Trading understands there are a large number of homes currently under construction by Cosmopolitan Constructions. Numbers cannot be confirmed at this early stage but are believed to be between 150 and 200 dwellings," Mr Roberts said.

There are other companies in the Cosmopolitan Group which are not in liquidation at this time. The circumstances of these companies and whether they are affected by the liquidation will become clearer in coming days.

Mr Roberts said consumers, sub-contractors and suppliers contacting the Fair Trading Hotline would be advised who they should contact to understand their rights and protections and could leave their contact details so that Fair Trading can keep in contact with them as events unfold.

"Consumers who have signed a building contract with Cosmopolitan Constructions are advised to immediately contact their insurers and lodge an insurance claim with the home warranty insurer," he said. "Home buyers should have been given a home warranty insurance certificate by Cosmopolitan Constructions shortly after they entered into a building contract with them and that certificate will identify their insurer," Mr Roberts said.

Fair Trading will encourage the liquidator and insurers to convene a meeting for home owners and consumers as soon as possible.

 

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