News Details
Fernandes issues a statement
The sorry saga of Caterham continues as Tony Fernandes and Caterham Group CEO, Graham Macdonald, issue a joint statement.It reads:Tony Fernandes, Caterham Group co-Chairman: 'In June 2014, I decided, together with my co-shareholders, to sell my stake in the Caterham F1 team. We agreed in good faith to sell the shares to a Swiss company named 'Engavest' on the basis that Engavest undertook to pay all of the existing and future creditors, including the staff. The continued payment of staff and creditors was so important to me that I ensured that the shares would not be transferred to the new buyers unless they complied with this condition.Sadly, Engavest has failed to comply with any of the...
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9y ago from Pitpass.com
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