The former directors of Cotswoldgate moved a step closer to facing legal action for wrongful trading after the administrator of the collapsed housebuilder confirmed to creditors his intention to liquidate the company.
The move follows a meeting this week between administrator Deloitte and subcontractors owed money by Cotswoldgate.
A source at the meeting said the administrator鈥檚 鈥渋nitial feeling鈥� was that there was enough evidence to pursue the directors of Cotswoldgate for wrongful trading.
It is also understood that the administrator will send a critical report of their conduct to the Department for Business, Enterprise and Regulatory Reform. The administrator confirmed to 黑洞社区 that 鈥渁n informal meeting鈥� had taken place but said no formal resolutions were passed.
Gloucester-based Cotswoldgate went into administration in April owing an estimated 拢3m to more than 30 subcontractors. A number of firms say the company deliberately accelerated work on projects despite being aware of the company鈥檚 inability to pay suppliers. Richard Perrill, Cotswoldgate鈥檚 former managing director, has consistently denied this.
No comments yet