Who is the debt collector representing?
a) Cosmopolitan? They no longer exist!
b) The insurance company? They should be paying you, not the other way around!
c) Criminals? What a great scam!
Browse Forums Building A New House Re: Cosmopolitan Homes - Liquidator appointed 250Feb 08, 2012 11:57 am http://camdenbuild.blogspot.com.au/ by invite only please pm me Re: Cosmopolitan Homes - Liquidator appointed 254Feb 22, 2012 8:21 pm Chaio, I'm not surprised they were in debt as early as Jan 2011 & still took your money....look at WM, they weren't doing so well & when we questioned them as to why our frame was exposed to the elements for 6 months, they used the excuse that all the tradies were too busy...even when we complained to the DoFT. they couldn't really do anything....someone has to look at the setup & or wording of the building contract & do something! Re: Cosmopolitan Homes - Liquidator appointed 255Feb 22, 2012 10:38 pm yeah, now I remembered our frame was exposed to weather like 4 mths and there were all sort of excuses, but we didn't know the real problem was money! You are right, something needs to be done, can’t let things drag on until the builder declare liquidation. By then, it's all too late. Plus we can't claim any liquidation damage. The interest to the bank ($14-18k?) due to the delay I will never get back. This is definitely one sided game, they can threaten no work when you hold payment due to issues, they can demand full progress payment when work is "substantially" done regardless of quality/defects, they can delay the project and pay you $50 a day for damage (if you made to the end). This is the biggest purchase for most people and we are open for slaughtering. Re: Cosmopolitan Homes - Liquidator appointed 256Feb 26, 2012 12:40 pm If a business continues to trade while it's insolvent, it's a criminal offence and people go to jail. Surely liquidated damages is part of the insurance. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Cosmopolitan Homes - Liquidator appointed 257Feb 26, 2012 2:27 pm Chiao Hi tintin/springtime or anyone in the near completion group have received a settlement letter from QBE? I was expecting a letter early Feb and still see no sight of it... ed! hey mate, I am told that an offer letter should come through this week for cash settlement. This will be based on the quotes from various tradies I submitted. In the meantime I have lined up all the workers and already had some work started as well. I was four days away from practical completion inspection when Cosmo went under........ Re: Cosmopolitan Homes - Liquidator appointed 258Feb 28, 2012 9:59 am Following on from the posting to this forum on 20 February 2012, a posting was listed yesterday quoting a settlement letter from QBE, however the posting was very quickly removed. Who was the poster? Was it the poster or the adminstrator which removed the posting? Have any of you received a settlement offer from QBE/SICorp for your incomplete claims? If so, does the settlement offered cover your losses? Have any of you recommenced building works with either your builder of your choice or with a builder who tendered through the insurance panel/assessment process? Your feedback is appreciated... Re: Cosmopolitan Homes - Liquidator appointed 259Feb 28, 2012 10:21 am Hi 4 corners, Yes, I saw the posting yesterday & was surprised at the info that it contained. You see we were building with WM homes & decided early in the claim process that we didn't want to wait for what they called " Panel Builders ". This is because we had been building for 16 months at the time of their collapse & enough was enough. Also, HWI did not cover mortgage repayments only rent, so we were really hurting The quotes we got were more than the 20% cap, which meant we were going to be out of pocket by about $10K, QBE advised us against leaving the group because of the shortfall & told us if we stayed, the house would be completed with no out of pocket expenses to us....the question was at the time ,when was this going to happen?, & the stress we were going thru was just too much, so we asked to have our claim settled which meant only 20% of the claim was paid. My question is, if QBE is now paying 40% of the claim not 20%, why can't we be paid the extra 20% people are being paid now? Re: Cosmopolitan Homes - Liquidator appointed 260Feb 28, 2012 10:44 am Hi - by chance I also read the post. I wonder how long it was up for? Like springtime, I was surprised they were offering now 40% rather than the 20% and also questioned who had written it. I have forgotten who the poster was but I did notice they hadn't made many posts to date. SunshineT's Build: viewtopic.php?f=31&t=34585 Designs start: 4/12/09 DA: 5/7/11 Demo: 22/12/11 Slab: 24/2/12 Keys: 31/8/12 I would never build with Fowler homes. I built with them in 2021 and till date maintenance issues are pending. All their existing trades and businesses don't work with… 14 110445 Hi there! Putting the feelers out there for those who have (or almost) built with Arli homes! Interested in your experiences who've built from their stock home designs… 0 26931 |