News Details
Lotus avoid administration by reaching agreement with Xtrac
Financially strapped Lotus has avoided being ordered into administration by reaching an agreement with a disgruntled supplier. Earlier in July, a spokesperson for London's Companies Court confirmed reports that an order to ‘wind up' the Enstone team had been brought by a creditor. It was confirmed that the unpaid supplier is Xtrac, a transmission specialist. The case was adjourned for two weeks until July 20, ostensibly so that Lotus and Xtrac could negotiate a solution out of court. But as recently as last Friday, ‘Lotus F1 Team Limited' was still appearing in Companies Court's latest ‘winding-up list'. But as the case resumed on Monday, it now emerges that the process...
Full Story »
Full Story »
10y ago from GrandPrix247.com
0
You May Also Be Interested In...
Lotus have almost $1million in unpaid bills
Lotus is behind in 27 bills adding up to almost $1 million in debt,...
10y ago from GrandPrix247.com
Lotus resolves legal issue with key supplier
The prospect of the Lotus Formula 1 facing administration after legal...
10y ago from Motorsport.com
Lotus insist they are not for sale and there is no...
Lotus CEO Matthew Carter has played down reports that it is on the cusp...
10y ago from GrandPrix247.com
Lotus CEO denies Renault takeover speculation
Renault isn't taking ownership of the Lotus F1 Team and neither has it...
10y ago from GrandPrixTimes.com
Elsewhere On The Network
Popular On MGPToday.com
Marc Marquez clinches first pole of 2026 in Spanish...
Marc Marquez produced a stellar lap to claim his first pole position of...
1h ago from MotorsportWeek.c...
MotoGP Spanish GP: Marc Marquez beats Johann Zarco to...
No description available...
40m ago from Motorsport.com
Pedro Acosta fastest in weather-affected final Spanish...
Pedro Acosta topped the timesheets for KTM in the final Spanish MotoGP...
1h ago from MotorsportWeek.c...
Trackhouse boss confirms Ai Ogura to leave team at the...
Trackhouse Team Manager Davide Brivio confirmed Ai Ogura intends to leave...
1h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Tony Kanaan opens up on Lundgaard, Siegel contract...
No description available...
16h ago from Motorsport.com
Pato O'Ward issues damning verdict on ‘Mario...
Pato O'Ward isn't chasing F1 any more after falling out of love with...
3d ago from MotorsportWeek.c...
Winners and losers from the IndyCar Grand Prix of Long...
No description available...
3d ago from Motorsport.com
IndyCar Officiating confirms Scot Elkins as Managing...
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
WRC Canary Islands: Sebastien Ogier leads as Toyota...
No description available...
13h ago from Motorsport.com
Sebastien Ogier goes all out on asphalt attack
Sebastien Ogier and Vincent Landais lead Rally Islas Canarias by 8.6...
16h ago from MotorsportWeek.c...
Dani Sordo reacts to interest from WRC’s newest...
No description available...
18h ago from Motorsport.com
WRC Canary Islands: Sebastien Ogier extends lead as...
No description available...
21h ago from Motorsport.com
Popular On GunnersToday.com
Sources: Arsenal 'like' Real Madrid star facing...
Arsenal are keeping an eye on Endrick’s situation as there’s the...
30m ago from CaughtOffside.com
Offer made: PSG growing in confidence in bid to sign...
Paris Saint-Germain are reportedly growing optimistic about their chances...
1h ago from CaughtOffside.com
Arteta: Arsenal ready to 'get job done' and win title...
Mikel Arteta has urged his players to "take ownership" of the...
2h ago from SkySports.com
Game 1 of the ‘new season' is a must win
Morning all. 'Game 1', is how Mikel Arteta described today's encounter...
4h ago from Arseblog.com
Comments
Hottest News
Isack Hadjar delivers emphatic rejection of Red Bull second...
Isack Hadjar has emphatically rejected concerns... Read More »
1h ago from MotorsportWeek.com
Montoya’s shock call: Ban Verstappen from GT3 racing!
Former F1 driver Juan Pablo Montoya has called... Read More »
40m ago from F1i.com
Zak Brown says it would be great to have Christian Horner...
McLaren CEO Zak Brown delivered a surprising... Read More »
1h ago from GrandPrix247.com
