Unpaid supplier claims HRT F1 team in liquidation

HRT Formula One Cars in the race bays. Mayor of Madrid HRT Formula One Team Factory Visit, Madrid, Spain, 18 May 2012.Dec.11 (GMM) Backmarker F1 team HRT is already in liquidation, according to claims by an angry, unpaid supplier.

Formtech Composites, a carbon fibre manufacturer, said in a statement that the beleaguered Spanish team entered liquidation proceedings on November 12 – well before the 2012 season ended.

The supplier said HRT is now only willing to pay 30 per cent of its debt.

And “It has come to our knowledge that [HRT owes a substantial amount of money to other suppliers in the motor sports industry,” Formtech added.

Formtech also accused HRT of giving “misleading information” about its situation.

Subbed by AJN.

  • Not Bernie

    Not paying suppliers is effectively theft. Unless you know that you can pay the bill you shouldn’t be asking for the goods.