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F1: What's going on at Caterham F1 Team?

Caterham Formula 1 team insists it is not in financial trouble despite the announcement from High Court Officers on an impeding sale of its equipment.

“By order of The Sheriffs Office, authorised High Court Enforcement Officers, we hereby announce the impending sale of goods seized and removed from a Formula One team”, said the bailiffs.

According to F1Technical.com, the removed items include a Caterham CT03, Caterham F1 car parts (due for Japan 2014), full size 6 DOF motion platform F1 simulator, Caterham F1 steering wheels, F1 wheels with tires, drilling and machining equipment and pit lane equipment.

In response to the post, Caterham F1 released a statement, insisting it will continue to race while claiming that all operations are still running as scheduled.

"There have been unfounded and unsubstantiated rumours concerning actions against 1MRT, the entrant and owner of CaterhamF1", the statement reads.

"An action was threatened yesterday against a supplier company to 1MRT. This company is not owned by 1MRT and it has no influence over the entry of CaterhamF1 or the entrant.

"Also contrary to uncontrolled rumours, all operations are currently in place at Leafield and the race team is doing its preparation in Japan.

Caterham driver Kamui Kobayashi said in Japan conditions are currently tough at the team as they head into the Grand Prix weekend.

Kamui Kobayashi says the Caterham race team are waiting for the arrival of team boss Manfredi Ravetto at Suzuka to learn more about the current situation at the embattled outfit.

“Our boss is flying over to here, so we are waiting [to find out] what happened really. Very difficult to say,” Kobayashi explained in Thursday's Drivers' Press Conference.

“At the moment we can still communicate with the UK so it looks as though the company is okay, but I don’t know for the rest, unfortunately.”