A1GP goes into liquidation, but seeking buyers

by David Jetuah

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26 Feb 2010

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Insolvency chiefs from Bridge Business Recovery have been appointed as liquidators of motor racing outfit A1 GP's parent company.

However the firm says it is extremely confident of finding a buyer for the A1 Grand Prix series by selling the assets as a whole package.

Tony Murphy and James Bradney have started selling the assets of the company’s operation ideally with a view of the buyer re-launching the A1 Grand Prix series in some form in the near future.

Assets include Lola racing cars, parts and spares, and also the intellectual property Rights to the A1 Grand Prix series logos and brands.

Murphy said:"Although it is still early days we are highly confident that a buyer can be found for the company’s assets and with it the prospect of the A1 Grand Prix series returning to our TV screens at some point in the near future. "

A1 Grand Prix collapsed last summer following a winding Up order being made in the High Court against the operating company, which was subsequently placed into administration in October.

Launched in 2004, millions of people watched nations pit their driving skills against each other in identical Lola cars over a series of 12 weekends.

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