Liquidator Considers Legal Action as ASIC Loses One.Tel Case


Donington Ventures Leisure Limited went into administration on Wednesday just weeks after failing to raise enough money to host the British Grand Prix, the BBC reported. Administrators said they hoped to find a buyer who would step in and complete the current work on the track. Motorsport News said any investor would struggle to get the venue ready in time. In its last financial statement in 2007 Donington Ventures Leisure Limited was more than £66 million in debt. But after it won the contract from Silverstone in 2008, early indications were that the funding was in place. However, the global economic downturn resulted in potential investors backing off and a final bond issue in October failed to raise the required £135 million. New aerial pictures have shown a substantial amount of work has already been done to the track, but returning it to a state in which it could host any international track event would need further investment. Read more.