Langtree today responded to news that its joint venture partner David McLean Group had been placed into administration, saying it would plough on with the revival of the International Garden Festival alone if needed.
John Downes, managing director of Langtree Group, said: "This is disappointing news for David personally and for the many people employed within his business. They have delivered many complex projects over the years that rightly earned them a good reputation.
"David McLean Holdings was our joint venture partner on the restoration and development of Liverpool's Garden Festival site. This news will inevitably delay progress a little but will not stop the project. Langtree remains absolutely committed to delivering the scheme.
"Having recently secured planning permission we are currently drawing up the site remediation and garden management strategy required for the site to move the scheme forward.
"Langtree Group is in a very strong financial position with a healthy balance sheet and has the ability to deliver the project on its own, if needed. We will of course work with the administrator of David McLean Holdings to progress the scheme and until a permanent solution is found to their issue."
After a lengthy planning battle and successful public inquiry, Langtree/McLean gained permission to build 1,300 apartments, 66 town houses and a waterside park on 56 acres of the former International Garden Festival site in south Liverpool.
The infamous site was largely derelict since the 1984 festival, devised by Michael Heseltine, the Conservatives' then secretary of state for the environment, to promote the area to developers.