By Jonathan Davies

The troubled Formula 1 team Caterham has made 230 people redundant despite a successful crowdfunding campaign which will allow it to compete after the final race of the season in Abu Dhabi on Sunday.

One former employee accused the administrators of burying bad news, as it made the redundancies on the same day that it announced it would compete in Abu Dhabi.

But administrator Finbarr O'Connell from Smith & Williamson said it was done at the request of Caterham staff.

"I'm not sure this is the bad news. This is what the employees as a group have been asking me to do," he said.

"This is what they want because it brings them closer to receiving money and if you speak to any of the staff representatives, they will confirm to you that 14 November was the date that they gave me."

Caterham fell into administration at the end of September, but launched a crowdfunding campaign in a bid to at least make the final race of the season.

Mr O'Connell said he will meet a potential buyer at the Abu Dhabi Grand Prix.

"I've got one really important meeting in Abu Dhabi with a seriously interested party and discussions with others are continuing," he said.

"Everybody is doing their best to get to the main event, and that's find to someone who will take over and have it running again."

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