Anyone contribute to the Caterham Crowdfund?

Fast_ian · Dec 2, 2014

FWIW, they've been given 'special dispensation' to run this years car next year. Apparently, that makes them more 'attractive' to potential buyers, of which the administrator claims there are three, two of which are 'serious'......

Pitpass also reporting that 'Caterham Sports' were sold for....... £1..... a mess for sure.

Prior to the team going into administration, it had been bought by Constantin Cojocar, a former professional footballer and former director of Romanian transport and logistics company SC Transbus Codreanu.

Cojocar has since admitted that he bought the company with the intention of selling its services to Forza Rossa, the new team which was given the green light in June by the FIA.

Indeed, in the witness statement he supplied as part of Caterham Sports' administration proceedings in late October, Cojocar revealed: "there is one issued share in the Company, and I purchased this on 24 September 2014 for £1. I am now the sole shareholder and director of the Company."

Normally, when one buys a company for the nominal sum of £1, one also takes on the company's debts and liabilities, in this case around £16.2m. However, in October Cojocar parted ways with the team when it went into administration and the creditors are still waiting for their money.
Click to expand...

Cheers,
Ian
Caterham was initially sold for £1 - Pitpass.com

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Anyone contribute to the Caterham Crowdfund?

Fast_ian Two Time F1 World Champ

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