The move to sell the collapsed Formula 1 team’s assets online at the end of
the month is thought to be a first for the UK insolvency market, but it could be
scuppered if a buyer is found using conventional means.
Partners from BDO were appointed as liquidators earlier this month after
creditors cut their losses and decided to break up the company. Property and
other real estate cannot be sold via the internet, but assets including an F1
car are eligible for online disposal.
‘The [online] auction is scheduled to go ahead, but we are working hard to
complete a sale beforehand,’ a BDO spokesman said.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory