Following our earlier story HERE, about the Creditors Meeting held last Friday 30th October 2009, the planned meeting for this week between the 5 nominated Creditors Committee has occurred.
There does not seem to be any early resolution of the financial position of A1GP.
The High Court appointed administrator Tim Bramston of Griffin’s still has to recover all the assets of the organisation which includes two sets of cars.
Once he has been able to do this, which could take up to three months, he can then try and put together a package to sell to any interested parties who would wish to continue with A1GP the series.
We believe that there is still only one interested party at this time – as we posted last month – an existing A1GP insider who is putting together a financial package with others, outside of the current management, to rescue the series.
At this time it has to be said that any rescue package is unlikely to come in time to rescue the current fifth season of A1GP. But if successful could get a new refreshed series to the start line for the following season in a far more healthy state.
Still if all of this fails to materialise then unfortunately the administrator would have to go back to the High Court and recommend liquidation of assets to pay creditors.
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- Latest A1GP Series Position Update
Today the administrator of A1GP held a 2 hour meeting with the creditors of which only about 17 turned up. The outcome of the meeting was to appoint a Creditors Committee comprising of five -...
Sorry but your earlier post was wrong about no races in S5.
Just because there won’t be a race at Assen now doesn’t make that post right.
Circumstances have changed and it has been Assen that has changed not A1GP.
Its a fact, like we wrote before we have inside information and when we are writing something then its treu!! not a rumor. Only ticket selling was not stopped, because A1GP-assen thinks that the people will pay the same entre fee for the Superleague Formula.
No races in S5 – is an assumption not fact.
A new Update?
This weekend there was a meeting in Portugal whit Tony Taxeira, and new the agp race in assen is off too, ticket selling is been stopt today. No races in S5.