Cooper Sports business sold as company goes into liquidation
Published: March 21, 2011Creditors of Left of Centre Productions Pty Ltd – which formerly traded as Cooper Sports – have been told that while it has a shortfall of more than $3.5 million, the business itself has been sold.
Cooper Sports has been associated with high-profile organisations including Cricket Australia and Australian Rugby.
Liquidator of Left of Centre, Schon Condon – who was appointed on March 15 this year – says the business of the company had been sold four days prior to his appointment.
“I am yet to receive a copy of the sale agreement... and will provide creditors with further details in future correspondence,” he says.
In this year’s Sportslink Directory, published in January, Cooper Sports’ activities are listed as brand development, design, sportswear manufacturing and event retailing. Its properties are listed as Bondi Surf Club, Cricket Australia, Australian Rugby, and Playground Entertainment.
Condon, of Sydney-based Condon Associates, says he is not trading the company and does not accept liability for services provided after the date of the liquidation.
In a summary of affairs sent to creditors (of which the publisher of Sportslink is one) and signed by John Cooper, realisable assets are listed at $1,118,967 with a deficiency (subject to $40,000 liquidation costs) shown at $3,550,086.
Preferred (employee) creditors – in a list totalling $297,616 – include the ATO and John and Jenny Cooper.
A meeting of creditors of Left of Centre Productions Pty Ltd is to be held at Condons’ Parramatta offices on March 28.
Read more from: Industry/Business News
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