Exocet update

[Magpie]

Boyracer the people who 'commandeered' the chassis have to hope that if Exocet does go bankrupt that they don't have to repay the money (relation back transaction).

[project.r.racing]

It is a shame for everyone involved, even for Matt himself. As a sole trader, his personal assets wont be protected. He made a few big financial mistakes business wise. And now his wife and kid/s will suffer the long term consequences also. Nothing like court enforced restitution payments to break up a marriage. Wives don't like living at the parent-in-laws house, driving around in a 86 corolla and paying $300 p/w restitution repayments.

[Magpie]

His companies have not been wound up yet. However if it is a personal bankruptcy he can't be a director of a company so his company(s) should be wound up.