Tony Teixeira
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António Teixeira is a South African businessman. He was born in Portugal but emigrated to South Africa, later naturalizing himself. He lived and studied in Nigel, and later dropped out of school to work at SASOL mining company , later he moved to the transport industry. He is the owner and CEO of the oil, diamonds and gold trading company Energem.
Tony Teixeira took over the A1 Grand Prix series in 2006; it went into liquidation by 2009.[1]
Trading of Energem stock has been suspended in both Toronto and London since June 2009, and filings with the London Stock Exchange indicate that US$54 million of its debt is related to A1GP, and Energem shareholders and A1GP had been promised payment of the $54 million would be made on July 16, 2009, a promise that has been broken and remade and broken again on August 6, September 11, September 22, October 22, December 9, and December 31, 2009, and again in January 2010, twice, both times with a promise of an additional $9.5 million in interest.[2][3]
Tony Teixeira made a personal pledge that he would donate $50,000 to charity if A1GP did not turn up for their scheduled 2009 Gold Coast race. This pledge has not been honoured.[4]
Tony Teixeira has four times failed to acquire a team in Formula One between 2008 and 2010.[5][6]
Tony Teixeira has been found to be in breach of a contract with A1 Team USA Holdings LLC by a US court, and the court has awarded a $4.5 million judgment against Teixeira personally.[7][8]
[edit] References
- ^ "Series in doubt after liquidation,", crash.net, 30 June 2009
- ^ "Related Party Debt Update,", energem.com, 8 January 2010
- ^ "Related Party Debt Update and AIM Delisting,", energem.com, 20 January 2010
- ^ "Government ignored A1GP warnings", goldcoast.com.au, 9 January 2010
- ^ "On the brink", grandprix.com, 10 January 2010
- ^ "Carabante takes over Campos team ,", autosport.com, 19 February 2010
- ^ "A1GP to be sold". autoweek.com. autoweek.com. 2010-01-28. http://www.autoweek.com/article/20100128/MOTORSPORTS/100129928. Retrieved 2010-01-28.
- ^ "A1 Team USA awarded $4.5m", pitpass.com, 28 January 2010
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