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The Caterham F1 Team is launching the #RefuelCaterhamF1 project today in order to help the team to go racing in Abu Dhabi "and hopefully beyond". The team reports it will reward fans with their presence on the grid at Abu Dhabi.
‘By order of The Sheriffs Office, authorised High Court Enforcement Officers, we hereby announce the impending sale of goods seized and removed from a Formula One team.
The goods include but are not limited to:
Caterham F1 test car (2013)
Caterham F1 car parts (due for Japan 2014)
Full size 6 DOF motion platform F1 simulator
Caterham F1 steering wheels
F1 wheels with tyres
High quality drilling & machining equipment
Caterham & Lotus F1 memorabilia
Various pit lane equipment including jacks, pumps and starters
TVs, monitors and other goods and equipment
The goods are to be sold by public auction to the highest bidder.
could this be another HRT situation?
I'm not sure how any of this is a surprise, though.2 October 2014
There have been unfounded and unsubstantiated rumours concerning actions against 1MRT, the entrant and owner of CaterhamF1.
An action was threatened yesterday against a supplier company to 1MRT. This company is not owned by 1MRT and it has no influence over the entry of CaterhamF1 or the entrant.
Also contrary to uncontrolled rumours, all operations are currently in place at Leafield and the race team is doing its preparation in Japan.
My thoughts are with Marcus Ericsson and his 12 MEUR...arguably the most ill-advised investment in Formula 1 history.FoxHound wrote:Mr Kolles presence certainly gave the game away. As did the ill-fated Lotterer/Kobayashi merry go round.
What we have here is a fabulous argument for Bernie's 3 car team idea.
And to think I had some hopes for this team to actually do a modicum of justice to the Caterham name.
Thoughts with the workers at Caterham....
Possibly the team is a number of different companies, with 1MRT owning the racing license, and not much else, and another / several separate companies owning equipment, leases and contracts with suppliers? So they can say that the 'team' doesn't owe anything, while technically true, it's a sister company that does.Richard wrote:By the way, while "The Sheriffs Office" sounds very official, but it's actually a private bailiff. They'll have been appointed by a creditor who has been to the a High Court to get an order to seize assets to settle a debt.
It seems Caterham are saying the debt is owed by a supplier and that Caterham/1MRT aren't liable for this debt. However, the bailiffs can only seize equipment that is owned by the anonymous supplier. So it seems Caterham don't have ownership of the equipment they are using. Maybe it's leased, or the equipment was used to secure credit from a supplier and that supplier is calling in that credit.
Or perhaps the equipment is owned by an intermediary company separate from the team. For example Red Bull Racing and Red Bull Technology. In that scenario, the bailiffs could come into RBT, while RBR say it has no effect on the racing team.
Unfortunately the creditor and supplier are unnamed, so we've no way of knowing who is dealing with who.