Engström Motorsport faces bankruptcy for a third time

STCC driver Tomas Engström’s company Engström Motorsport AB is facing bankruptcy for the third time since 2010 as the company has got a debt of over 230 000 Swedish kronor. The Swedish National Tax Agency states:

”It has emerged that the debtor has no assets to full payment of the foreclosure claim. Engström Motorsport AB shall therefore be considered to be insolvent.”

Engström has contested the bankruptcy and has requested a suspension for six weeks in order to sell equipment and a race car (Honda Civic S2000) with spare parts. The 50-year-old states to dalademokraten.se that he is working on a potential buyer in China for his race car.

The Swedish National Tax Agency has approved a suspension for Engström to May 5 2014. Among the creditors is TTA Touring Car Service AB with a claim of 166 952 kronor for technical support and tyres.

Engström drove a Honda Civic in last year’s STCC season to finish eleventh overall with sixth as best individual result.