Winding Up Order Granted Against Arrows

Former Arrows driver Heinz-Harald Frentzen effectively hammered the final nail into the coffin of the troubled team after a judge granted his winding up petition against them.

Winding Up Order Granted Against Arrows

Former Arrows driver Heinz-Harald Frentzen effectively hammered the final nail into the coffin of the troubled team after a judge granted his winding up petition against them.

Receivers for Arrows, PKF, today said they were now trying to sell off assets of the team, which hit financial troubles last season after 25 years in Formula One. Arrows missed six of the last seven Grands Prix and the sport's governing body, the FIA, refused them entry to this year's Championship.

The entire workforce were made redundant and team boss Tom Walkinshaw's powers as a director have been suspended. German Frentzen, who will race for the Sauber team this year, is owed wages by Arrows and applied for a winding up order along with a number of other creditors.

"It's a complete F1 facility that's up for sale, including the leasehold premises and all the equipment to set up and run a team," said PKF's Phillip Long.

He confirmed that Arrows' 2002 race cars, their unique three-seater demonstrator and "various models and prototypes" were also up for grabs.

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