Force India team principal Otmar Szafnauer said the team came within days of collapsing before going into administration and being bought by new owners.
Szafnauer said described how close the team came to being declared insolvent, which would have forced it to close its doors.
It was pretty close, he told media including RaceFans last weekend. I think some of the creditors had legal actions to go down the insolvency route as opposed to the administration route.
The significant difference is [with] insolvency you close the doors and you sell the assets and youre done. Whereas [with] administration the administrator tries to find a solution for the company to keep it going. And we were very close to insolvency rather than administration. It w…
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