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Marussia set to exit administration on February 19
Sky Sports News HQ’s Craig Slater has the latest on Marussia: “Marussia have announced their intention to come out of administration by a company voluntary arrangement. I have been in touch with their administrators and one of them – James Rossiter – has released this statement:
‘It is envisaged that, prior to the commencement of the first race of the 2015 season, investment into the business will be made upon the Company exiting from administration via a Company Voluntary Arrangement (“CVA”), which is planned for 19 February 2015. A CVA is a restructuring process agreed with the Company’s creditors which allows for a turnaround of the business and the creation of a...
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