Caterham Sports Limited placed into process of insolvency

  • Published on 21 Oct 2014 08:26
  • comments 0
  • By: Rob Veenstra
More alarming news about the health of the ailing F1 backmarker Caterham has emerged. The posts have now been deleted, but race driver Kamui Kobayashi reportedly admitted on Facebook recently that he considered pulling out of the Russian grand prix when Caterham ran out of spare parts.

He posted a photo of broken suspension on his car at Sochi that was repaired rather than replaced. "It's checked all the time but, even so, being asked to race like this is too scary! I want to go home already," the Japanese said, according to the BBC. The 28-year-old driver's manager Chikara Funada confirmed that Kobayashi had written the posts, which were at his private Facebook page and not a public profile.

Earlier this month, bailiffs seized items from Caterham's Leafield headquarters, in the wake of founder Tony Fernandes' exit and the arrival of Swiss-Middle Eastern owners represented by new team advisor Colin Kolles. Now, it emerges that the company that designs and builds the team's F1 cars, Caterham Sports Limited, has been placed into a process of insolvency.

Finbarr O'Connell, working for the firm Smith and Williamson, told the Telegraph: "As administrator I control the machines they are working on, the computers, the factory, the intellectual property. If I don't do a deal with 1MRT (the Caterham F1 team) then they (staff) will have nothing to work on and their jobs could be at risk," he revealed.

It is believed the plan of Caterham's new management is to relocate the entire operation, possibly to Kolles' Greding facility in Germany, where the Romanian based his F3 and Le Mans projects. "For avoidance of any doubt," team boss Manfredi Ravetto said last week, "I'd like to add that Leafield remains the team's base, even though it's no secret that we are looking for a more suitable alternative. We look forward to the final three races of the season, we will keep fighting, we will keep improving and we will introduce some positive surprises." (GMM)

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BEGrand Prix of Belgium

Local time 

World Championship standings 2025

Show full world champion standings

Test calendar

See full test schedule

Related news

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2025

Date
Grand Prix
Circuit
-
Bahrain
14 - Mar 16
Australia
21 - Mar 23
China
4 - Apr 6
Japan
11 - Apr 13
Bahrain
18 - Apr 20
Saudi Arabia
2 - May 4
United States of America
16 - May 18
Italy
23 - May 25
Monaco
30 - Jun 1
Spain
13 - Jun 15
Canada
27 - Jun 29
Austria
4 - Jul 6
United Kingdom
25 - Jul 27
Belgium
1 - Aug 3
Hungary
29 - Aug 31
Netherlands
5 - Sep 7
Italy
19 - Sep 21
Azerbaijan
3 - Oct 5
Singapore
17 - Oct 19
United States of America
24 - Oct 26
Mexico
7 - Nov 9
Brazil
21 - Nov 23
United States of America
28 - Nov 30
Qatar
5 - Dec 7
United Arab Emirates
See full schedule

Formula 1 Calendar - 2025

Date
Grand Prix & Circuit
14 - Mar 16
Australia Albert Park
21 - Mar 23
4 - Apr 6
11 - Apr 13
18 - Apr 20
Saudi Arabia Jeddah Street Circuit
2 - May 4
United States of America Miami International Autodrome
16 - May 18
23 - May 25
Monaco Monte Carlo
30 - Jun 1
13 - Jun 15
27 - Jun 29
Austria Red Bull Ring
4 - Jul 6
United Kingdom Silverstone
25 - Jul 27
1 - Aug 3
Hungary Hungaroring
29 - Aug 31
Netherlands Circuit Zandvoort
5 - Sep 7
Italy Monza
19 - Sep 21
Azerbaijan Baku City Circuit
3 - Oct 5
17 - Oct 19
United States of America Circuit of the Americas
24 - Oct 26
7 - Nov 9
Brazil Interlagos
21 - Nov 23
United States of America Las Vegas Street Circuit
28 - Nov 30
5 - Dec 7
United Arab Emirates Yas Marina Circuit
See full schedule

Team profile

Show full profile
show sidebar