Report: Monday creditors' meeting to decide Caterham F1 fate

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Britain's Sunday Express newspaper reports that a meeting of the bankrupt Caterham team's unpaid creditors is tao take place on Monday, which unpaid creditors will be asked to approve a potential sale of the team.

Caterham lapsed into bankruptcy administration earlier this year with debts of a £16.2m ($25.3m), according to court documents, which forced it to skip races before returning for the season finale in Abu Dhabi. The Express says that at tomorrow's meeting in London, creditors will be asked to approve the administrators' proposals which include "asking creditors to consider establishing a creditors' committee."

Caterham's prospects of continuing as an F1 entrant may be better than fellow bankrupt team Marussia, which recently auctioned off most of its assets, after it managed a return to the grid in Abu Dhabi by raising emergency funds via a crowdfunding scheme. It remains to be seen, however, whether the administrators will be able to revive the team under new ownership or be forced to liquidate its assets to pay the creditors.