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Management of Caterham F1 team handed to administrator
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.
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