It spells the end of any possible and hoped for takeover of the team which struggled throughout last season to compete due to financial worries.
When the FIA rejected its bid to enter the 2003 World Championship - and in doing so scuppering a planned takeover of the team - the writing was on the wall for the team which first competed in Grand Prix in 1977.
Last month the team had made remaining members of its UK-based staff redundant, and earlier this month administrators were called in to try and realise funds from the team's assets.
The Arrows Formula One team has had its life-support machine turned off after a London court placed it into receivership.
