Directors of Birmingham developer MCD have said it is business as usual on other schemes
The firm, behind schemes like Square near the Warwickshire CCC ground and Derwent Foundry in the has called in receivers to companies overseeing four developments.
The companies are overseeing Brindley House Birmingham, The Oaks in Sutton Coldfield and Earlsdon Park Coventry projects, as well as Eclipse and Horizon Bristol.
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The firm said in a statement that BNP Paribas had been appointed as a receiver as part of an agreement with RBS bank.
It states: "Since the start of the recession in 2008, MCD management has worked in collaboration with RBS to implement a consensual exit strategy in respect of its four historic, ring-fenced, projects at Brindley House Birmingham, Earlsdon Park Coventry, Eclipse/Horizon Bristol and The Oaks Sutton.
"During this six-year period, MCD has significantly enhanced the value of the bank's secured assets, generating tens of millions of pounds of additional value.
"The natural culmination of this agreed strategy is for the remaining assets within these historic projects to be brought to market over the next 12 to 18 months.
"To this end, MCD by agreement with RBS has appointed BNP as fixed charge receiver over the relevant properties and MCD is now winding up the relevant corporate vehicles which it no longer requires.
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"This process affects only the properties and related companies referred to above. It does not affect any other MCD companies or projects."
The wider company, based on Frederick Street in the Jewellery Quarter, was also behind major plans near Edgbaston cricket stadium and has delivered more than £600 million worth of schemes comprising 1,880 residential units, 1.6 million sq ft of offices and 277,000 sq ft of retail.
The Post reported last week that liquidators were being appointed at MCD (Brindley House), MCD (Brindley House 2), Bristol Management Company, MCD (Bristol), Earlsdon Park Management Company, MCD (Coventry) MCD (North of the Border), St Martin's Gate Management Company, MCD Developments and MCD Regeneration.