There has been some updates to the sad drama surrounding the Caterham F1 Team. The representatives of 1MRT/Caterham F1 Team have agreed to hand-over full management of the team to the administrator Finnbarr O’Connell from London-based accountancy firm Smith & Williamson.

O’Connell is essentially now the team principal of the ‘very cash-strapped team’ – which were his own choice of words to describe the team that he now has to run while finding a buyer.

The team has been put into administration because of debts of about £12 million (RM63.3 million). It’s factory at Leafield was closed earlier this week and staff have been told not to return until a deal is concluded. This means the team could miss the US and Brazil races.

F1 supremo Bernie Ecclestone says he will allow Caterham to miss the two races to focus on finding a buyer, but hopes that the team will be able to compete at the final race of the reason in Abu Dhabi.

The bailiff in charge of this case – The Sheriffs Office – have posted a couple of photos on their Twitter account over the past week showing some of the items that have been seized. Here are some of them.