Administrators trying to save Caterham "are investigating possible chicanery in the weeks leading up to the Formula One team’s financial collapse," according to Kevin Eason of the LONDON TIMES. In a "damning assessment" of the team’s finances, Finbarr O’Connell, leading the administrators from Smith & Williamson, confirmed that "the sole director in charge of the Caterham business when it went under was a retired footballer, Constantin Cojocar, who was the factory cleaner." O’Connell claimed that when he telephoned Cojocar to request meetings, "he turned out to be in Germany working for Colin Kolles, the mysterious Romanian dentist turned team principal who has wafted in and out of F1 for the past decade." O’Connell’s report to the High Court said that Caterham’s financial affairs were “in total disarray,” with records out of date and inaccurate. The report said, "Assets had been appropriated by various parties. We strongly suspect there had been improper activity and we are currently investigating this." Only now "is the full state of affairs being dragged into the spotlight in reports filed before Christmas, and it appears that both teams were operating on a wing and prayer." Marussia "hit the buffers" owing £31.4M ($49M) (LONDON TIMES, 12/30).
