In Germany you would not be allowed to not pay your employees ...the ranking is clearly set first pay your workforce ,maybe even before that is insurance fees for the emplyees ...and only then other depts can be paid off ..ScottB wrote:So people have handed over a fortune to let these chancers turn up at a race, for a purpose I can't figure out, while they owe their staff 7 weeks worth of wages. This cash will just allow what's left of the team to turn up for the end of season party, that's it.
Crowd funding can be a great thing, but in this case, it really isn't.
Will be interesting to see if they can convince Lotterer or Kamui to drive, as a team is only allowed 4 race drivers a year, presumably they'll be selling the second seat to the highest bidder, and pocketing the cash of course.
Here there is a national fund that guarantees the employees gets paid in case a company goes bust, but to prevent abusemarcush. wrote:In Germany you would not be allowed to not pay your employees ...the ranking is clearly set first pay your workforce ,maybe even before that is insurance fees for the emplyees ...and only then other depts can be paid off ..ScottB wrote:So people have handed over a fortune to let these chancers turn up at a race, for a purpose I can't figure out, while they owe their staff 7 weeks worth of wages. This cash will just allow what's left of the team to turn up for the end of season party, that's it.
Crowd funding can be a great thing, but in this case, it really isn't.
Will be interesting to see if they can convince Lotterer or Kamui to drive, as a team is only allowed 4 race drivers a year, presumably they'll be selling the second seat to the highest bidder, and pocketing the cash of course.
The whole affair is in the hands of administrators -they sure are obliged to act correctly within the laws ?
I imagine it's a bit of a grey area, companies in administration aren't allowed to incur further debts, so presumably they've raised this cash to pay for going to Abu Dhabi upfront.langwadt wrote:Here there is a national fund that guarantees the employees gets paid in case a company goes bust, but to prevent abusemarcush. wrote:In Germany you would not be allowed to not pay your employees ...the ranking is clearly set first pay your workforce ,maybe even before that is insurance fees for the emplyees ...and only then other depts can be paid off ..ScottB wrote:So people have handed over a fortune to let these chancers turn up at a race, for a purpose I can't figure out, while they owe their staff 7 weeks worth of wages. This cash will just allow what's left of the team to turn up for the end of season party, that's it.
Crowd funding can be a great thing, but in this case, it really isn't.
Will be interesting to see if they can convince Lotterer or Kamui to drive, as a team is only allowed 4 race drivers a year, presumably they'll be selling the second seat to the highest bidder, and pocketing the cash of course.
The whole affair is in the hands of administrators -they sure are obliged to act correctly within the laws ?
part of that is that as soon as the company stops paying salary you have to stop working or you will no longer be covered
I think it was the Malaysian bank that forced them into administration, but no idea if the admins were the bank's choice, the team's choice or picked by the court.marcush. wrote:who actually ordered the adminnistrator currently in charge -was it Fernandes? or the creditors? Is this just an exercise to throw more money into the fire and let some guys have a nice weekend in abu dhabi?..I cannot see the plan behind this.
That would actually be 9th; Marussia got up to 9th in Monaco and scored 2 points. Caterham finishing 10th will equal the points but the Marussia will still have the highest finished position.Manoah2u wrote:I can't imagine them scoring any points. They didnt even have the means to properly fix their car. They must somehow drive up to 10th place on the finish line to score points. That means 9 cars need to have a DNF and they not to be able to score that. No way.
Kolles already retreated from his managing function. He could of course return with somebody else their wallet in his hands, but that means getting into the mess of who actually owns the team (which still hasn't been cleared out).Raleigh wrote:I'm expecting Kolles to find some backers to buy the team, with him then running it (and being paid well, without any of the responsibilities of actually owning the team). Would of course mean a name change, might even be on the grid as Forza Rossa...
Marrusia don't count anymore though, so Caterham will finish 10th regardless of turning up in Abu Dhabi or not, and if they make it into next year, will get access to the prize money.turbof1 wrote:That would actually be 9th; Marussia got up to 9th in Monaco and scored 2 points. Caterham finishing 10th will equal the points but the Marussia will still have the highest finished position.Manoah2u wrote:I can't imagine them scoring any points. They didnt even have the means to properly fix their car. They must somehow drive up to 10th place on the finish line to score points. That means 9 cars need to have a DNF and they not to be able to score that. No way.
In any case, showing up in Abu Dhabi is simply a matter of getting the price money. If they didn't show up, any claim on TV money would be forfeited. This is nothing more then optimizing cash flow before full-on liquidation, as next year the team will not be there.
I'm still contemplating on that. Marussia will forfeit their claim on any price money, that is for sure, but will they also forfeit their finishing position in the championship? If not, and Caterham OR Sauber don't finish 9th that race, it remains a position that will not receive money and FOM will just keep the money of that position. Knowing Bernie it wouldn't surprise me if that'll happen.ScottB wrote:Marrusia don't count anymore though, so Caterham will finish 10th regardless of turning up in Abu Dhabi or not, and if they make it into next year, will get access to the prize money.turbof1 wrote:That would actually be 9th; Marussia got up to 9th in Monaco and scored 2 points. Caterham finishing 10th will equal the points but the Marussia will still have the highest finished position.Manoah2u wrote:I can't imagine them scoring any points. They didnt even have the means to properly fix their car. They must somehow drive up to 10th place on the finish line to score points. That means 9 cars need to have a DNF and they not to be able to score that. No way.
In any case, showing up in Abu Dhabi is simply a matter of getting the price money. If they didn't show up, any claim on TV money would be forfeited. This is nothing more then optimizing cash flow before full-on liquidation, as next year the team will not be there.
Any team is allowed to miss 3 races, so they could have missed Abu Dhabi and been fine. I can only think turning up is a last ditch attempt to find a buyer, by attempting to make the team look like it's in a better state.