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87-517: The AC Ace is a sports car produced by AC Cars of Thames Ditton , England , from 1953 until 1963. About 220 AC Aces and 466 Ace-Bristol cars were produced during its 10 year run. AC came back to the market after the Second World War with the 2-Litre range of cars in 1947, but it was with the Ace sports car of 1953 that the company really made its reputation in the post war years. Casting around for

174-667: A Ford V8 in the Ace chassis, producing the AC Cobra in 1962. Production of the Ace ended the same year. The AC Cobra came in small block and later big block configurations. It was Ford's 289 that powered the winning car in the GT class at Le Mans in June 1964. At the time, the AC Cobra 427 was the fastest "production" car in the world. AC Automotive, based in Straubenhardt, Germany, built AC cars under

261-474: A creditors' liquidation or receivership following bankruptcy , which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders' liquidation or members' liquidation , although some voluntary liquidations are controlled by the creditors). The term "liquidation"

348-451: A "receivership-like" state but calmly sell its assets, for example to prevent its portfolio being written off in the event of an actual compulsory liquidation. The parties which are entitled by law to petition for the compulsory liquidation of a company vary from jurisdiction to jurisdiction, but generally, a petition may be lodged with the court for the compulsory liquidation of a company by: The grounds upon which an entity can apply to

435-548: A 2-litre AC, fitted with special streamlined bodywork, covering a distance of 1,949.3 miles. In 1926, the Honourable Victor Bruce, an AC employee, won the Monte Carlo Rally in his 2-litre AC. In 1927, Victor Bruce, with his wife Mildred ( The Hon Mrs Victor Bruce ), assisted by J.A. Joyce, set a 10-day endurance record at Montlhéry , driving an AC Six. Nevertheless, the sales started to fall. Selwyn Edge bought

522-513: A bigger engine. A big block Ford FE series 390 V8 was installed in a Cobra but it was over-powered and the car was now almost undrivable. It was decided that a completely new chassis was needed. With the combined help of Ford's computers and the experience of the AC engineers, the new MKIII was born with 4-inch (100 mm) main tubes instead of 3-inch (76 mm) ones for the chassis, adding huge cross-braced shock towers and coil springs all around. In 1965

609-470: A butcher, thought the car would be too expensive to produce and encouraged Weller to design and produce a little delivery three-wheeler . In 1904, a new company was founded and named Autocars and Accessories; production started with the Auto-Carrier . The vehicle caught on quickly and was a financial success. Three years later, a passenger version appeared, called the A.C. Sociable. It had a seat in place of

696-481: A competition version with a stripped interior, no glove box, different instrument layout and revised suspension was introduced. The competition version also had a more powerful motor with only one carburettor, side exhausts, a roll bar and wider fenders to accommodate racing tires. The engine that was installed in the car was Ford's famed 427 FE NASCAR "Side-Oiler" V8, a power-house engine developing 425 bhp (317 kW) in its mildest street version. Unfortunately,

783-404: A discretion for a period of time after dissolution to declare the dissolution void to enable the completion of any unfinished business. In some jurisdictions, the company may elect to simply be struck off the companies register as a cheaper alternative to a formal winding-up and dissolution. In such cases an application is made to the registrar of companies, who may strike off the company if there

870-761: A few kilometres from the AC factory, the not yet fully tuned prototype completed two events in 1958: in June as a factory car in the Le Mans 24-hour race and in September in the Rudac Racing Team at the RAC Tourist Trophy at the Goodwood Circuit. Due to changes in the regulations, the car was no longer able to compete in the next event in its class in the FIA - Sportscar World Championship . The Bristol drivetrain went back to

957-621: A meeting between Hubert Patthey , the then AC and Aston Martin importer for Switzerland and Elio Zagato. The original vehicle from 1957 was delivered to the Swiss company Pattheys in 1958; Who commissioned the Carrozzeria Zagato to produce a single, individual car body for the vehicle to be used at local races and the Pescara rally. Zagato designed and built a coupé body made of thin-walled aluminium sheet with Zagato's trademark "Double Bubble",

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1044-515: A new company registered as AC (Scotland) plc run by David McDonald in a new factory in Hillington, Glasgow . Here, 30 cars were built, including a development car tested with Alfa Romeo 's 2.5-litre V6 engine and a nearly complete Mark 2 prototype of the same. Regardless (or possibly because) of these developments, AC Scotland called in the receivers in 1985. After selling the historic High Street works for redevelopment, AC themselves soldiered on as

1131-579: A new range of cars was launched. Production continued on a small scale, averaging less than 100 vehicles per year, until the outbreak of the Second World War in 1939. The final pre-war car was delivered in June 1940, after which the factory was fully involved with war production. After the war, AC secured a large contract with the government to produce the fibreglass -bodied, single seat, Thundersley Invacar Type 57 invalid carriages with Villiers 2-stroke engines. The invalid carriages continued to be built until 1976 and were an important source of revenue for

1218-529: A newly designed pendulum axle at the rear. The open aluminium body was much flatter, with larger overhangs at the front and rear and aerodynamically rounded with a lowered down front and high tail. It was designed by artist Cavendish Morton , who also styled other sports cars. The engine and transmission unit were tuned production unit from the Bristol Type 100D2/S. After a test ride on the Brooklands circuit, just

1305-612: A one-off. The 1970s were not a good period for luxury car manufacturers and Derek Hurlock went searching for a totally new, smaller car. Mid-engined designs were in fashion at the time and in 1972 the Diablo , a prototype with an Austin Maxi engine and transaxle, was built by privateers Peter Bohanna and Robin Stables . In much the same way as they had taken up the Tojeiro prototype and turned it into

1392-491: A person for the appointment of a liquidator and possibly of a supervisory liquidation committee. The person appointed by the holder of a floating charge debenture over a company’s assets to collect in and realise the assets of that company and to repay the indebtedness to the debenture holder. Administrative receivers can no longer be appointed by floating charge holders with the exception of floating charges created prior to 15 September 2003. Voluntary liquidation occurs when

1479-469: A pre-war BMW -designed, Bristol -produced 135 bhp (101 kW) six-cylinder engine. This combination was put into production as the AC Ace-Bristol in 1957. In this form, the car raced at Le Mans in 1957 and 1958. There is also in existence an AC Aceca fitted with a Bristol six-cylinder engine. One prototype labelled as drawing number "A86" was made in 1959. This Aceca-Bristol had a wider body and

1566-475: A replacement for the ageing 2-Litre, AC took up a design by John Tojeiro that used a light, ladder-type tubular frame, all independent transverse leaf spring suspension, and an open two-seater alloy body made using English wheeling machines, possibly inspired by the Ferrari 166 MM barchetta . Early cars used AC's elderly 100 bhp (75 kW) two-litre overhead cam straight-six engine (first seen soon after

1653-550: A service operation in the "21st Century" works on Summer Road until the Hurlock family finally sold their holdings in 1986 to William West. After some complex machinations, the company was split between property interests and the car brand; the former was renamed and the latter was acquired by C.P.Autokraft's owner, Brian Angliss . In 1982, Brian Angliss was running Autokraft , a Cobra restoration shop, parts supplier and replica manufacturer. To further such pursuits, he acquired some of

1740-519: A solid roof with two vaults above the driver's and co-driver's seat to ensure sufficient headroom at low headroom. Patthey sold the finished vehicle to an Englishman who lived in Switzerland, who was negotiating with him for various rides near Lake Geneva ; Later the racing driver Jo Siffert acquired the unique car, which he used at different racing events and historical races like the Mille Miglia . On

1827-465: A voluntary winding-up of a company has begun, a compulsory liquidation order is still possible, but the petitioning contributory would need to satisfy the court that a voluntary liquidation would prejudice the contributors. The liquidator will normally have a duty to ascertain whether any misconduct has been conducted by those in control of the company which has caused prejudice to the general body of creditors. In some legal systems, in appropriate cases,

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1914-479: Is a British specialist automobile manufacturer and one of the oldest independent car makers founded in Britain. As a result of bad financial conditions over the years, the company was renamed or liquidated many times until its latest form. In 2022, the new corporate structure began the production of new AC Cobra models, with a slightly modified structure to adapt it to modern safety and technology requirements and obtain

2001-429: Is also sometimes used informally to describe a company seeking to divest of some of its assets. For instance, a retail chain may wish to close some of its stores. For efficiency's sake, it will often sell these at a discount to a company specializing in real estate liquidation instead of becoming involved in an area it may lack sufficient expertise in to operate with maximum profitability. A company may also operate in

2088-445: Is held by the company on trust for third parties will not form part of the company's assets available to pay creditors. Before the claims are met, secured creditors are entitled to enforce their claims against the assets of the company to the extent that they are subject to a valid security interest . In most legal systems, only fixed security takes precedence over all claims; security by way of floating charge may be postponed to

2175-408: Is made by a board resolution, but instigated by the director(s). 75 percent of the company's shareholders must agree to liquidate for liquidation proceedings to advance. If a limited company’s liabilities outweigh its assets, or the company cannot pay its bills when they fall due, the company becomes insolvent. If the company is solvent , and the members have made a statutory declaration of solvency,

2262-399: Is more beneficial to start again by creating a new company, often referred to as a phoenix company . In business terms this will mean liquidating a company as the only option and then resuming under a different name with the same customers, clients and suppliers. In some circumstances it may appear ideal for the directors; however, if they trade under a name which is the same or substantially

2349-445: Is reasonable cause to believe that the company is not carrying on business or has been wound-up and, after enquiry, no case is shown why the company should not be struck off. However, in such cases the company may be restored to the register if it is just and equitable so to do (for example, if the rights of any creditors or members have been prejudiced). In the event the company does not file an annual return or annual accounts, and

2436-414: Is to collect its assets, determine the outstanding claims against the company, and satisfy those claims in the manner and order prescribed by law. The liquidator must determine the company's title to property in its possession. Property which is in the possession of the company, but which was supplied under a valid retention of title clause will generally have to be returned to the supplier. Property which

2523-608: The AC Cobra . Shelby needed a car that could compete with the Chevrolet Corvette in US sports car racing. Only a single example was built (CSX 2000) using a Ford 221 Windsor V8. It debuted in 1962 with a Ford 260 V8 engine. This was then superseded by the Ford 289 V8 engine. The resulting Cobra was a very powerful roadster, and it is commonly blamed for the introduction of the 70 mph (110 km/h) limit on British motorways . While this

2610-402: The preferential creditors . Claimants with non-monetary claims against the company may be able to enforce their rights against the company. For example, a party who had a valid contract for the purchase of land against the company may be able to obtain an order for specific performance , and compel the liquidator to transfer title to the land to them, upon tender of the purchase price. After

2697-504: The 1965 Turin show. A few early models were fitted with the famed 427 Ford FE motors. In 1967 the long- stroked 428 motor became available and the car was known as the AC Frua . Built out of steel rather than AC's usual aluminium, the Frua is heavier than a Cobra at slightly under 3,000 lb (1,400 kg). That said, it is still a light and very fast automobile built on a racing chassis. The car

AC Ace - Misplaced Pages Continue

2784-665: The AC Superblower with a supercharger Ford V8. Two Aceca coupes (enclosed version of the Ace) were also made. In August 2002, AC Motor Holdings Ltd. was incorporated in Malta . In 2003, Carroll Shelby International and AC Motor Holdings Ltd. announced the production of an authentic Shelby/AC Cobra, with the production vehicle arriving at dealers in July 2004. Initial models included Shelby AC 427 S/C Cobra and Shelby AC 289 FIA Cobra, which were branded as

2871-555: The Ace as well as the Aceca, AC used chassis numbers beginning with AE for AC-engined cars, BE for Bristol-engined ones, and RS for those equipped with the Ford unit. An " X " following the first two letters indicated an export model. With the engine set well back in the chassis, the Ace handled well and was successful in competition. The car raced at Le Mans in 1957 and 1958. In the 1959 24 Hours of Le Mans , Ted Whiteaway and John Turner drove their AC Ace Bristol, registration 650BPK, to

2958-422: The Ace, AC acquired the rights and at the 1973 London Motor Show showed their own version, the mid-engined ME3000 with the 3.0-litre Ford Essex V6 engine installed transversely over a bespoke AC-designed gearbox. Development was virtually complete in 1976 when new Type Approval regulations were introduced. A prototype failed the 30 mph (48 km/h) crash test, and the chassis had to be redesigned. On

3045-520: The Aceca is still a bargain when compared to a Shelby CSX Cobra, while maintaining similar performance. There was a demand from some customers for a larger four-seater car, for whom AC produced the Greyhound . This was built on a stretched Ace chassis with coil suspension all around and a 2.2-litre Bristol engine. The AC Ace LM Prototype was a single piece from the year 1958 with the unusual chassis number LM5000, which John Tojeiro designed on behalf of

3132-481: The Autokraft MKIV, but eventually Angliss acquired the rights to use the AC name. Derek Hurlock had been strongly protective of the name, but Angliss' high standards of craftsmanship won him over. When the Hurlock family finally sold up in 1986 Angliss fully acquired the AC trademark rights and set up a new AC company as a joint venture with Ford, who had also recently bought Aston Martin . A big conflict followed over

3219-619: The CSX 1000 and CSX 7500 Series, respectively. In February 2004, the first handcrafted aluminium body shell was built at Frimley works. In 2004, a new manufacturing plant was opened in Malta and production of the carbon-fibre-bodied AC MkV began. Due to problems with the factory building, production ceased in 2007. In August 2008, Acedes Holdings LLC was incorporated in St Kitts . Liquidation Liquidation may either be compulsory (sometimes referred to as

3306-450: The Cobra name to Ford in 1965 and went on to help develop the famed racing Ford GT40 . At the same time, the company realized they needed a grand tourer model that could appeal to wealthy customers. AC contacted the famed Italian coach builder Pietro Frua to design an appealing GT body that could be fitted on a MKIII Cobra chassis stretched by 6 inches (150 mm). The new car was shown at

3393-569: The European road homologation certificate. The first car from the company that eventually became AC was presented at the Crystal Palace motor show in 1903; it was a 20 HP touring car and was displayed under the Weller name. The Weller brothers of West Norwood , London, planned to produce an advanced 20 hp (15 kW) car. However, their financial backer and business manager John Portwine,

3480-516: The Ferry Works factory produced shells and fuses for the war effort , although at least one vehicle was designed and built for the War Office . At the end of the war, Auto Carriers started making motor vehicles again, designing and building many successful cars at Ferry Works, as well as expanding into an old balloon factory on Thames Ditton High Street. Shortly thereafter, John Weller started on

3567-714: The Shoreham air show in 2007. Angliss looked for a new car to complement and perhaps replace the MKIV. At the 1993 London Motor Show , he introduced a new vehicle that he named the AC Ace. It was a modern automobile with a stainless steel chassis and an aluminium body, but was expensive to develop and build. The costs hit Angliss hard and he sold his large motor bike collection, vintage Bentley and other assets to try to make ends meet. The receivers were called in by 1996 after approximately 50 "new" Aces had been built. In March 1996, largely due to

AC Ace - Misplaced Pages Continue

3654-495: The Swiss racing team Ecurie Lausannoise. It completed the Le Mans test in April 1960 as the fastest vehicle, but failed to finish the June 1960 race . A very similar "Ace Bristol" with chassis number BEX1192 appeared in Le Mans in 1962, at the same time the last Le Mans appearance of an "AC Ace" before the "AC Cobra" from 1964 was used. The car of a French private owner suffered accident damage

3741-462: The application, the court may either dismiss the petition or make the order for winding-up. The court may dismiss the application if the petitioner unreasonably refrains from an alternative course of action. The court may appoint an official receiver, and one or more liquidators , and has general powers to enable rights and liabilities of claimants and contributories to be settled. Separate meetings of creditors and contributories may decide to nominate

3828-462: The brothers Hurlock specifically for the AC factory at the 24 Hours of Le Mans and for further long-distance racing . The vehicle was only 737 kilograms (1,625 lb) and differed fundamentally from the standard model: it had a load-bearing, lightweight, tubular steel frame without the massive ladder structure, a new front axle with single wheel suspension, this time in the form of upper and lower triangular steering with coil spring / shock units, and

3915-461: The car missed homologation for the 1965 season and was not raced by the Shelby team. However, it was raced successfully by many privateers and went on to win races all the way into the 1970s. At the end of 1966, Shelby was left with 31 unsold competition cars; it was decided by Shelby American to sell them to the general public under the name of Cobra 427 S/C or Semi-Competition. These S/C cars have become

4002-403: The car's handling was heavily criticised by writers from Car Magazine, Autocar and Motor. AC's ambitions of selling 250 cars per year were a distant memory. After just 71 cars were sold, Hurlock called a halt to production as his health was suffering and the company was struggling in the teeth of a recession. In 1984, production stopped at Thames Ditton and the car and the AC name were licensed to

4089-410: The car's performance further, with some versions tuned to 170 bhp (127 kW), providing a top speed of 130 mph (209 km/h) and 0–60 mph (0–100 km/h) in 8.1 seconds. However, it was not long before Carroll Shelby drew AC's attention to the Cobra, so only 37 of the 2.6 models were made. These Ford engined models had a smaller grille which was carried over to the Cobra. For

4176-552: The cargo box. The A.C. Sociable was described in a review of the 1912 Motor Cycle and Cycle Car Show as "one of the most popular cycle cars on the road, both for pleasure and business", and A.C. displayed eight vehicles on their stand, six for pleasure and two for business. The single rear wheel contained a two-speed hub, and the single-cylinder engine was mounted just in front of it, with rear chain drive. The company became Auto Carriers Ltd. in 1911 and moved to Ferry Works, Thames Ditton , Surrey — at this time, they also began using

4263-703: The circuit, the single took part only in a well-known race, on 5 October 1958, at the Coupes du Salon, where it won the class in the class up to 2000 cc. The vehicle was acquired by an American collector. The Ace Bristol Zagato was fitted with a modified Bristol six-cylinder engine with 130 hp at 5750 rpm, torque 174 Nm at 4500 rpm, length 3,848 millimetres (12.625 ft), height 1,245 millimetres (4.085 ft), ready-to-run weight 862 kilograms (1,900 lb), top speed 185 kilometres per hour (115 mph), Acceleration from zero to 60 miles per hour in 7.7 seconds, to 100 miles per hour in 16.1 seconds. The 'AC Ace-Aigle'

4350-468: The company outright for £135,000 in 1927 and re-registered it as AC (Acedes) Ltd., but sales, which had been falling, continued to decline. The company was caught by the crash of 1929 and went into voluntary liquidation . Production ceased for a time, and the company was sold to the Hurlock family who ran a successful haulage business. They wanted the High Street factory only as a warehouse (Ferry Works

4437-536: The company through motoring competition. In 1921 Sammy Davis joined A.C. as a driver, competing in the Junior Car Club 200-mile (320 km) race, for cars up to 1,500cc, at Brooklands . In 1922, the name changed again to AC Cars Ltd. In 1923 and 1924, J.A. Joyce won the Brighton Speed Trials driving an AC. In May 1924, at Montlhéry near Paris, T.G. Gillett broke the continuous 24-hour record in

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4524-459: The company's affairs, the liquidator must call a final meeting of the members (if it is a members' voluntary winding-up), creditors (if it is a compulsory winding-up) or both (if it is a creditors' voluntary winding-up). The liquidator is then usually required to send final accounts to the Registrar and to notify the court. The company is then dissolved. However, in common jurisdictions, the court has

4611-440: The company's file remains inactive, in due course, the registrar will strike the company off the register. Under the corporate insolvency laws of a number of common law jurisdictions, where a company has been engaged in misconduct or where the assets of the company are thought to be in jeopardy, it is sometimes possible to put a company into provisional liquidation , whereby a liquidator is appointed on an interim basis to safeguard

4698-517: The company. Production restarted in 1947 with the 2-Litre , using the 1991 cc engine from the 16. The 2-Litre used an updated version of the pre-war, underslung chassis , fitted with the AC straight-six engine and traditional ash -framed and aluminium -panelled coachwork , available in saloon or convertible versions. They also built an aluminium-bodied three-wheeled microcar , the Petite , as well as "Bag Boy" golf carts (with independent suspension to

4785-522: The convertible Ace, and because of better aerodynamics was also slightly faster (128 mph (206 km/h) top speed). Acecas are popular at historic racing events. Arch McNeill , a factory Morgan racer from the 1940s, 1950s and 1960s told fellow Texan and Aceca owner Glenn Barnett that "the Morgan team spent two years campaigning to beat the factory AC Acecas and finally did in the late 1950s". Though more valuable than comparable AC or Shelby replicas,

4872-648: The cost of developing the new Ace, Angliss' company went into receivership and was eventually sold to South African businessman Alan Lubinsky in December 1996, who continued car production in Weybridge, Surrey , under the name of AC Car Group Ltd. Both the Cobra Mk IV and the Ace were made, and soon a 'CRS' version of the Mk IV was announced with a carbon fibre body shell, a 212 S/C version with Lotus twin-turbo V8 power, as well as

4959-399: The court for an order of compulsory liquidation also vary between jurisdictions , but normally include: In practice, the vast majority of compulsory winding-up applications are made under one of the last two grounds. An order will not generally be made if the purpose of the application is to enforce payment of a debt which is bona fide disputed. A "just and equitable" winding-up enables

5046-438: The design of a new overhead-cam six-cylinder engine. The first versions of this design were running by 1919. The Weller engine would be produced until 1963. In 1921, Selwyn Edge (who had previously been with Napier ) bought shares in the company, and was subsequently appointed governing director. He did not get along with Weller or Portwine, who resigned less than a year later. In customary fashion, Edge sought publicity for

5133-463: The end of the First World War), which, according to a 1954 road test by Motor magazine, gave a top speed of 103 mph (166 km/h) and 0–60 mph (0–100 km/h) in 11.4 seconds and a fuel consumption of 25.2 miles per imperial gallon (11.2 L/100 km; 21.0 mpg ‑US ). It was hardly a sporting engine however, and it was felt that something more modern and powerful

5220-569: The famed "AC" roundel logo. They continued to produce the commercial 3-wheeler tricars and the A.C. Sociable now frequently referred to in their adverts as the Mighty Atom. Their first four-wheeled car was produced in 1913; it was a sporty two-seater with a gearbox on the rear axle. Only a few were built before production was interrupted by the First World War. During the First World War ,

5307-436: The finish, claiming top honours for the 2,000cc GT class and seventh overall behind six 3 litre cars. Few cars with this provenance have survived and are extremely valuable. They can range from $ 100,000 or more for an unrestored car, even one in pieces, to in excess of $ 400,000 for a restored AC Ace. When Bristol ceased building their 6-cylinder engine in 1961, AC's owner, Charles Hurlock, was approached by Carroll Shelby to use

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5394-416: The future direction for AC, but Angliss eventually won his independence as well as Ford's continuing and essential cooperation as an engine and parts supplier. Also interested in aircraft, Angliss restored a Hawker Hurricane XIIB at Brooklands as well as acquiring two ex– Indian Air Force Hawker Tempest IIs as future projects. The Hurricane was registered as G-HURR and was destroyed in a fatal accident at

5481-407: The grounds to subject the strict legal rights of the shareholders to equitable considerations. It can take account of personal relationships of mutual trust and confidence in small parties, particularly, for example, where there is a breach of an understanding that all of the members may participate in the business, or of an implied obligation to participate in management. An order might be made where

5568-446: The liquidation will proceed as a members' voluntary liquidation (MVL). In that case, the general meeting will appoint the liquidator(s). If not, the liquidation will proceed as a creditors' voluntary liquidation, and a meeting of creditors will be called, to which the directors must report on the company's affairs. Where a voluntary liquidation proceeds as a creditors' voluntary liquidation, a liquidation committee may be appointed. Where

5655-407: The liquidator may be able to bring an action against errant directors or shadow directors for either wrongful trading or fraudulent trading . The liquidator may also have to determine whether any payments made by the company or transactions entered into may be voidable as a transaction at an undervalue or an unfair preference . The main purpose of a liquidation where the company is insolvent

5742-406: The majority shareholders deprive the minority of their right to appoint and remove their own director. Once liquidation commences (which depends upon applicable law, but will generally be when the petition was originally presented, and not when the court makes the order), dispositions of the company's generally void , and litigation involving the company is generally restrained. Upon hearing

5829-541: The manufacturer and the racing car was sold without it and later rebuilt. The Ace LM prototype was acquired by a collector. The "AC Ace Bristol Zagato" was designed and built by Zagato from the year 1958. Conceptually, the Berlinetta resembles the two-seat factory coupe ' 'AC Aceca' ', but on the chassis number BEX 477 of a left hand drive 'AC Ace Bristol'. The idea came about at the Geneva Motor Show in 1957 during

5916-401: The members of a company resolve to voluntarily wind up its affairs and dissolve. Voluntary liquidation begins when the company passes the resolution, and the company will generally cease to carry on business at that time (if it has not done so already). A creditors’ voluntary liquidation (CVL) is a process designed to allow an insolvent company to close voluntarily. The decision to liquidate

6003-447: The most sought after models and can sell in excess of 1.5 million dollars. In 1966 a street model of the 427 S/C was made available. It came with a tamer motor, optional dual carburetors, a glove box, and exhaust running under the car. Meanwhile, AC went on producing a milder version of the 427 MK III Cobra for the European market fitted with the small block Ford motor. The car was called the AC 289 and 27 were produced. Carroll Shelby sold

6090-478: The nine second bracket. Overdrive was available from 1956 and front disc brakes were an option from 1957, although they were later standardised. In 1961 a new 2.6-litre (2,553 cc (155.8 cu in)) straight-six 'Ruddspeed' option was available, adapted by Ken Rudd from the unit used in the Ford Zephyr . It used three Weber or SU carburettors and either a ' Mays ' or an iron cast head. This setup boosted

6177-451: The nose of the car. These changes are often mistakenly attributed to Carroll Shelby . Prototype chassis number RS 5500 featured the standard Ace body work. Its production model, the RS 5501-5507 (as later known) is one of the rarest models, with only 7 such cars built. In September 1961, AC was approached by Carroll Shelby to use a small block Ford Windsor V8 engine in the Ace chassis, producing

6264-658: The original name from 2010 to mid-2023. Cars were sold in Germany, France and England, with sales in Luxembourg, Holland, Lichtenstein, Switzerland, and Belgium slated for the future. Pricing for the standard ACGT model starts at £104,400 before options. The AC Automotive company went into liquidation on July 24, 2023. As with the Cobra, some AC Ace replicas have been made, such as the Hawk Ace, but are much rarer. AC Cars AC Cars , originally incorporated as Auto Carriers Ltd. ,

6351-447: The position of the company pending the hearing of the full winding-up petition. The duty of the provisional liquidator is to safeguard the assets of the company and maintain the status quo pending the hearing of the petition; the provisional liquidator does not assess claims against the company or try to distribute the company's assets to creditors. In the UK, many companies in debt decide it

6438-409: The previous year and had been returned to the "AC" factory, where it received a special lightweight body with an aerodynamically favourable front in the style of the "Jaguar E-Type" / "Ace-Aigle". In the race, there was no clutch damage. The six-cylinder Bristol engine was optional until it ceased production in 1961. Soon after, car dealer and racing driver Ken Rudd fitted his own competition Ace with

6525-409: The removal of all assets which are subject to retention of title arrangements, fixed security, or are otherwise subject to proprietary claims of others, the liquidator will pay the claims against the company's assets. Generally, the priority of claims on the company's assets will be determined in the following order: Unclaimed assets will usually vest in the state as bona vacantia . Having wound-up

6612-557: The second Monteverdi 375/L (Monteverdi chassis# 2002). After the alliance between Monteverdi and Frua broke apart in Summer 1969, that bodyshell remained in the Frua works in Turin . A year or so later Frua changed some details on front and rear, including some semi-hidden headlamps similar to those seen on the Iso Lele and the second series Iso Grifo before. The car was called AC 429; it remained

6699-477: The second attempt, the car passed with flying colours. This was a huge achievement for a tiny firm — Vauxhall had to make several attempts before the contemporary Chevette passed. For AC, such delays meant that the first production cars (later renamed 3000ME) were not delivered until 1979, by which time they were in direct competition with the Lotus Esprit . Although comfortable, brisk, nicely built and practical,

6786-439: The standard vehicle, the 'Ace-Aigle' had a modified front and a fixed hardtop . The roof top had two unusual vaults to give the rider and co-driver plenty of headroom - actually the "double bubble" design, typical of Zagato, and implemented in its 1958 coupé. The normal, aerodynamically relatively unfavourable front body of radiator grille, front fenders and bonnet was replaced by a new front and made of lightweight polyester . This

6873-439: The tooling from Thames Ditton and created the MKIV; the car had US-spec 5 mph (8.0 km/h) bumpers, a US-regulations compliant motor, and a larger interior with modern switchgear. About 480 cars were produced in his factory at Brooklands . He also produced a lightweight model which was more in tune with the original Cobra spirit, though it could not be exported to the US owing to federal regulations. Early cars were sold as

6960-501: The two wheels). In 1953, the firm began production of the AC Ace , based on a lightweight chassis designed by John Tojeiro and hand built aluminium body designed and built by Eric George Gray with the venerable Weller-designed 2-Litre engine. For 1954, a new aluminium-bodied closed coupe was unveiled at Earls Court , the AC Aceca , pronounced A-seek-a. It was only slightly heavier than

7047-412: Was a major factor in the decision, after a coupe version was caught doing 196 mph (315 km/h) during a test run, a then-recent spate of accidents under foggy conditions also helped the introduction of the limit. Its European model was branded with the AC brand. At the end of the 1964 racing season, the Cobra was being outclassed in sports car racing by Ferrari . Carroll Shelby decided he needed

7134-577: Was an aerodynamically improved one-off AC Ace Bristol-based vehicle with the BEX289 chassis number designed specifically for the Le Mans 24-hour race in 1960. The inspiration came from the Swiss AC importer Hubert Patthey, as was the case with 'AC Ace Bristol Zagato' in 1958, but was conceptually much easier. The Aigle Aigle , which has been legally independent in its own right alongside the design studio and car body builder Ghia in Turin existed. In contrast to

7221-534: Was built on a coil-sprung chassis similar to the AC Greyhound. Also, there exists a prototype with chassis number RS 5000, featuring the standard Ace body work. The production model of the AC Ace 2.6 (as it was later known) is for many people the prettiest Ace of all—and undoubtedly the rarest, with only 36 such cars built. To fit the Zephyr engine, AC had to modify the frame, relocate the steering box and completely change

7308-409: Was never fully developed and the cost of sending chassis from England to Italy and back for final assembly made it so expensive that only a few were produced. Production ended in 1973 after only 80 cars (29 convertibles and 51 coupes) were finished. In 1970, a special version of the coupé was built. It was based on an extended bodyshell that Frua built for Monteverdi which was supposed to become

7395-422: Was not acquired), but allowed the service side of AC to continue. A single car was made for William Hurlock in 1930. He liked it and agreed to restart very limited production using components left over from previous models. An agreement was reached with Standard to supply new chassis , the ancient three-speed transaxle was replaced by a modern four-speed gearbox (built in unit with the engine), and by 1932

7482-508: Was required to put the modern chassis to good use. Joining the Ace in 1954 was the Aceca hard top coupé, which had an early form of hatchback rear door but used the same basic timber framed alloy body. From 1956, there was the option of Bristol Cars ' two-litre 120 bhp (89 kW) straight-six with 3 downdraught carburettors and slick four-speed gearbox . Top speed leapt to 116 mph (187 km/h) with 0–60 mph (0–100 km/h) in

7569-487: Was rounder, ran longer and flatter forward, and had a flat, oval cooling air intake, backlit headlights clad with plexiglas half shells. It remotely recalled the Jaguar E-Type . According to the same concept and with very similar lines, Ghia Aigle had already changed several Austin-Healey Sprites from 1958 to 1961 (albeit without hardtop). The "Ace-Aigle" was used by Swiss riders André Wicky and Georges Gachnang from

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