24/10/2014
NEWS STORY
Caterham has announced that management of the Caterham team has been handed over to the administrator in order to allow it to continue operating.
A brief statement issued this morning reads:
Following a request of yesterday evening at 21.55hrs CET from Caterham Sports Limited's administrators and the legal advisors of Mr Tony Fernandes' related EXIM Bank, representatives of 1MRT/Caterham F1 Team have agreed, with all rights reserved, to hand-over management of the Caterham F1 Team to the administrator Mr Finbarr O'Connell in the higher interest of allowing the team to continue operating and preparing for the next events.