News Details
Lotus given seven days grace
Lotus have been granted a brief reprieve in their insolvency case, which was brought against the team by the taxman. Lotus have an outstanding bill of £900,000 owned to Britain's tax authority HMRC. The team's lawyers were in London's High Court on Friday and argued that an administration order would threaten the team's sale to Renault and would cost 400 jobs. Mr Justice Birss agreed and granted Lotus a week's grace. He said: 'The parties have satisfied me that that there is genuinely a real prospect that the first stage of the deal that is being described will be signed in the next seven days which will allow significant funding to go into the company.'
Full Story »
Full Story »
10y ago from PlanetF1.com
0
You May Also Be Interested In...
Lotus F1 receives final adjournment in tax case
The Lotus Formula 1 team has been granted a final adjournment in its High...
10y ago from SpeedCafe.com
Lotus tax case adjourned again
Lotus' case against the British tax authorities is adjourned for another...
10y ago from Crash.net
Strategy Group agrees engine cost cap
Formula 1 teams can look forward to cheaper engines in 2016 while Pirelli...
10y ago from PlanetF1.com
Sahara Force India battles with Lotus
Force India regained 5th position in the constructors championship ahead...
10y ago from F1Hub.net
Elsewhere On The Network
Popular On MGPToday.com
Former team boss Lin Jarvis definitively leaves Yamaha
No description available...
17h ago from Motorsport.com
Pedro Acosta: “Forgetting about the championship”...
No description available...
19h ago from Motorsport.com
Pramac MotoGP boss shares what ‘surprised’ him...
Pramac MotoGP Team Manager Gino Borsoi revealed that he was “quite...
1d ago from MotorsportWeek.c...
Rain spoils debut of Honda’s 850cc engine in Sepang...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Race start times for 2026 IndyCar season announced
The NTT IndyCar Series has announced the race broadcast start times for...
4d ago from MotorsportWeek.c...
Chip Ganassi Racing completes four-car roster for 2026...
No description available...
1w ago from Motorsport.com
Broadcast schedule for 2026 Indy NXT season announced...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
Why Hyundai expects to be stronger in WRC 2026
No description available...
17h ago from Motorsport.com
Red Bull co-owner Mark Mateschitz to enter Dakar...
No description available...
1d ago from Motorsport.com
Gregoire Munster confirmed for WRC Monte Carlo in...
The season opener marks a return to the event where Munster claimed his...
5d ago from MotorsportWeek.c...
Popular On GunnersToday.com
‘A quick learner’: how Declan Rice went from...
fielder will be part of the conversation for a Ballon d’Or if he...
23m ago from TheGuardian.com
Manchester United and Arsenal step up interest in...
Manchester United and Arsenal have stepped up their pursuit of Belgian...
1h ago from SportsKeeda.com
Years after snubbing transfer to Liverpool and...
German footballer Julian Draxler has opened up on his failed move to...
1h ago from SportsKeeda.com
Sources: Man United & Arsenal enter race for...
Genk’s teenage sensation Konstantinos Karetsas has rapidly emerged as...
3h ago from CaughtOffside.com
Comments
Hottest News
Parc Ferme: Formula 1’s 2025 best & worst performers-Part...
The FIA Formula 1 Drivers’ and Constructors’... Read More »
2h ago from GrandPrix247.com
Creating the perfect Christmassy F1 driver lineup
'Twas the night before Christmas and not a... Read More »
33m ago from GPFans.com
McLaren claim controversial F1 honour as Haas suffer horror
Check out a full breakdown of the 10 fastest pit... Read More »
23m ago from RacingNews365.com
