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The Times & The Sunday Times
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Driving ace loses as developer goes bust

2007 Formula One world drivers’ champion Kimi Raikkonen listed as being owed €392,000) by Northern Irish development firm
Tom Lyons
The Sunday Times
Tom Lyons
The Sunday Times

A FORMER Formula One motor racing world champion has emerged as among the biggest unsecured creditors of a bust Northern Irish development company.

Double R Racing, which is co-owned by ex-Formula One ace Kimi Raikkonen is listed as being owed £322,000 (€392,000) by Eassda Ltd, one of the main development firms owned by the family of Alastair Jackson. Eassda is in administrative receivership and unsecured creditors are unlikely to receive a dividend.

Jackson’s son Ali, 22, formerly raced for Raikkonen’s Formula Three racing team, which is based in England.

Raikkonen, who is now a rally driver, won the 2007 Formula One World Drivers’ Championship. He set up Double R in 2004 with Steve Robertson and David Robertson.

BDO, the administrator of Eassda Ltd, told its unsecured creditors, who are owed £1.7m, there would be “insufficient funds” generated by asset sales to return them anything.

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Administrators are working to repay some money to Ulster Bank, Northern Bank and Bank of Ireland, who are owed a combined £28.6m.

Eassda Holdings, the Jackson family’s parent company, continues to trade. It has interests in Ireland including the Moyvalley golf resort in Co Kildare.