Manor, the reborn Marussia team, took a step back from administration on Thursday. We reported earlier that the ailing backmarker's administrators would on Thursday issue a statement confirming that a restructuring process (CVA) agreed with creditors is now in place. Indeed, the statement was issued to the media at 3pm UK. 'With new investment and a continuity of the respected management, the business has the ideal platform from which it can accelerate the operational rebuilding already under way to get a team back racing,' said administrator Geoff Rowley. Manor is now in a race against time to be ready for Melbourne. Although it was believed the team could sit out the opening three races...
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