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Insolvency experts try to save Caterham F1 team
Insolvency specialists have been handed full management responsibility at the financially troubled Caterham Formula One team in a bid to find a buyer. Administrators closed the team factory in the English county of Oxfordshire, on Thursday, and have been placed in charge of the team. Caterham said in a statement that the management was handed over 'in the higher interest of allowing the team to continue operating and preparing for the next events.' Administrator Finnbarr O'Connell says 'this is a very cash-strapped team.' The past and present owners of Caterham have been engaged in a dispute over the last week leading up to Friday's announcement. Malaysian entrepreneur Tony Fernandes says...
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10y ago from F1Pulse.com
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