Presumably the replacement will be deemed a new company, subject to the rigours of the CAA approval checklist (form SRG\1175,
http://www.caa.co.uk/docs/33/SRG1175Issue1.pdf).
What are the criteria in section 17 that is considered 'evidence for sufficient funding'? Should there be a tick box for 'previous fiduciary history' and 'moral courage'?
My heart sinks.