News Details
Marussia-Manor exits administration
+ Manor’s chances of racing in Formula 1 this season received a boost on Thursday as the team officially exited administration. The former Marussia squad collapsed into administration in November of last year, and the team subsequently missed the final three races of the 2014 season. The team’s administrators FRP Advisory confirmed easier this month that they planned to bring the collapsed outfit out of administration, and the company had a Company Voluntary Arrangement agreed to on Thursday, handing control of Marussia-Manor back to its former directors. “We are pleased that the financial restructuring of the Company has been progressed after creditor approval of the CVA,” said...
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