News Details
Administrator takes control at Caterham
In the latest chapter of the Caterham saga, the running of the F1 team has been handed over to administrators.
Although the Engavest consortium purchased the Caterham F1 team earlier this season, they claim previous owner Tony Fernandes had not fulfilled his part of the deal by handing over shares.
Fernandes, however, countered that by saying Engavest are the ones in the wrong and have not paid the team's creditors.
Their dispute ultimately resulted in Caterham Sports Limited (CSL), who make and service the F1 cars for entry holder 1Malaysia Racing Team (1MRT), going into administration.
With the doors to the team's Leafield factory locked, the cars inside and the United States GP looming,...
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10y ago from PlanetF1.com
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