The former Sauber Formula 1 Team boss Monisha Kaltenborn had launched KDC Racing Formula 4 team alongside Emily di Comberti to compete in the two of the biggest European F4 championships in Germany and Italy.

The team started the ADAC F4 championship with Aaron di Comberti and Leonardo Lorandi as the drivers but only entered in the first three rounds. Over in the Italian F4 series, the team put di Comberti along with Toby Sowery and Ilya Morozov in the first two rounds only.

With only five rounds across the two championships, the team went bankrupt last month. The reported news was confirmed by Lanan Racing team boss Graham Johnson, whom the KDC Racing team owner di Comberti owes nearly £90,000.

However, Johnson cleared that the money is not related to the KDC Racing team, but it is for their son Aaron who raced for Lanan in the first four rounds of the 2017 BRDC British F3 Championship.

The statement to FormulaRapida.net from Johnson stated: "The Team owner of KDC Racing is now bankrupt owing me close to £90,000. As a bankrupt she/he can not be a company director anywhere. The KDC team have not raced for a while and owe suppliers money."

He revealed that the court’s hearing was scheduled for last month but neither di Comberti nor any of her's associate appeared and so they were declared bankrupt. The court is now investigating their financial condition to recover the debt.

Elaborating on Aaron’s stint with Lanan, Johnson stated that he started off well in the pre-season testing but faced difficulties during the season. He unable to convert into high-end results, even though he scored regular points.

This resulted in Aaron’s father pulling him out of the team and the championship altogether. There has been no news or statements from either di Comberti and or Kaltenborn on this matter thus far.