The administrator of Cotswoldgate is poised to put the collapsed housebuilder into liquidation, a move that could pave the way for legal action against its former directors, writes Michael Glackin. Administrator Deloitte has told subcontractors owed money by the housebuilder that it is willing to hold a creditors' meeting, after initially refusing to do so. It is understood that the meeting will be a precursor to Deloitte placing Cotswoldgate into creditors' voluntary liquidation. Creditors have called for this move because it will allow an investigation into the reasons behind the company's collapse. Gloucester-based Cotswoldgate went into administration in April, owing an estimated ￡3m to more than 30 subcontractors. The failure of the ￡ 13m-turnover firm followed the collapse of Welsh housing developer Meadgate in March with debts of ￡36m. Both firms were backed by Aurelian Property Finance.
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