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Ferrari, McLaren lose millions from Marussia collapse
The collapse of Marussia isn't just a loss for Formula 1 and the team's various employees, but it will also have an impact on Ferrari and McLaren which are among 200 creditors owed money. Ferrari supplied Marussia with engines for the 2014 season and is owed £16.6 million, none of which is expected to be recovered according to documents from Marussia's administrators, FRP Advisory. McLaren, which has a technical partnership with the Banbury-based team, is the third largest creditor with an outstanding £7.1m. The second largest is UK taxpayer-owned Lloyds Development Capital, an investment arm of Lloyds Banking Group, which is owed more than £10m after it lent the team...
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9y ago from TheF1Times.com
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