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Caterham F1 on the brink as buyers threaten to pull out
Caterham faces an uncertain future after the team's buyers threaten to pull out, claiming Tony Fernandes still owns the team having not transferred shares. The team was bought from Fernandes by a group of Swiss and Middle Eastern investors advised by Colin Kolles at the end of June, and has been undergoing a period of restructuring ever since. With staff laid off and Caterham Sports Limited (CSL) - which builds the cars for the F1 team - having entered administration, the new owners now claim they don't actually own the team. Saying the plight of CSL "has had devastating effects on the F1 Team's activities", the new buyers are now taking legal action against Fernandes and says it...
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