TBK-Light.com

Formtech Composites Ltd. is a design, engineering and manufacturing company of high-end carbon solutions and products located in Milton Park, Abingdon, Oxfordshire.
Major customers are Formula 1 racing teams like:
• Force India F1
• Marussia F1
• Lotus Renault F1
• Caterham F1
• McLaren F1
• Hispania Racing Team F1 (HRT).

Other customers are automotive companies and /or suppliers to automotive companies, suppliers to the military sector and to minor extent to the aerospace industry.
In the last F1 season Formtech Composites sold a reasonable amount of money to the Spanish team HRT and it has come to our knowledge that they owe a substantial amount of money to other suppliers in the motorsports industry.

HRT decided by mid of November 2012 to stop the F1 Racing activity. Formtech Composites is one of their suppliers, who support them until the last race in Brasil. By 15th November a payment plan for all open invoices was jointly settled between HRT and Formtech Composites and 25% of the amount was paid according to the plan – leaving still substantial amount unpaid. One week later HRT changed the responsibility of their people involved in the case and stated the following:

• Liquidation procedures started on 12th November 2012 (so before payment plan was agreed).
• They are no longer in a position to pay 100% of the outstanding invoices
• The new offer is to pay 30p for every Euro owed across their entire creditor list, with no room
for negotiation.
• The owner of the HRT F1 is a Luxembourgian Fund (misleading Formtech Composites Ltd on the
possibilities of finding a viable way to chase the debt further).

According to Formtech Composites Ltd‘s knowledge, the owner of HRT (which was formerly owned by Campos Meta 1 SL) is to 100% Thesan Capital SL and no Luxembourgian Fund.
Formtech Composites doesn’t accept this misleading information tactics. Formtech Composites is going to investigate further into the true shareholder ship of HRT and Thesan Capital SL.

Any support from the press is highly appreciated in order to keep business standards to a civilized level within the motorsports industry.

Hmmm... Flavio complaining about underhand tactics....

Let's see his track record shall we?

1994 - Option 13 aka Traction Control
1994 - Removal of fuel filter from the Intertechnique system
2008 - Singapore and Piquet

I'm sure I'm missing a few more so I'll fill out the blanks as I remember them.

Any chance of a new poll?

I wonder what a TAM airplane was doing in Malta.

Like what?

Or:

Will Felipe Massa win a race next year?

Yes
No

Or:

Will Lewis Hamilton win a race next year?

Yes
No

Any idea when the official review will be available for purchase?

Or:

Will Felipe Massa win a race next year?

Yes
No

Or:

Will Lewis Hamilton win a race next year?

Yes
No