The liquidator of racing car business A1 Holdings has filed a claim for
damages for more than £300,000, against the administrator of its subsidiary A1
Grand Prix Operations.
The claim is over money from the sale of high performance racing cars by the
administrator which was not passed on to the liquidator.
Stephen Metcalfe, Tim Bramston’s solicitor at Beachcroft, told
Accountancy Age: “Liability is denied and the claim will be vigorously
Tony Murphy, lead liquidator at Bridge, said it was “”disappointing that we
had to issue proceedings to resolve matters.”
In the legal documents seen by Accountancy Age the claim is against
Bramston and three brokers engaged to sell the cars.
The documents also said that in January a judge ruled the cars were the
property of A1 Holdings and not the subsidiary.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children