I believe this car to be causing my game to hang at "populating favourites" screen of AC launcher.
1) extracted to cars folder
2)launched and ran game fine
3)hangs at populating favourites
4)delete caterham academy
5)verify game cache and redownload over 13000 files
6)Launch AC to AC launcher successfully
7)extract to cars folder
8)game hangs at populating favourites
Attached are my logs
Update 18.33 26/07/15
I believe I have resolved the issue, and tracked it down to improper extraction of the files, folder "SKIN TEMPLATE" & Readme.txt was extracted to cars directory,since moving to caterham academy folder, the issue appears resolved.
Extract it at the *game folder*\Assetto Corsa\content\cars.
Do no mesh with the templates, if you want to install any skins just copy the skin you want to this folder: Assetto Corsa\content\cars\caterham_academy\skins.