News Details
Lotus court case postponed pending Renault purchase
The Lotus Formula 1 team's court case has been subject to a further adjournment until 21 December, following a hearing at the High Court in London on Monday. This was supposed to have been the final chance for Lotus to deal with its main creditor – the UK tax authorities – but last week's confirmation that the purchase by Renault is to go ahead ensured that the judge agreed to allow more time. The Renault share purchase agreement (SPA) is due to be completed by 16 December, and had the deal not been confirmed, the team faced administration. Emphasising how precarious the situation was, Mr Justice Birss said: “You got away with it... or rather, it has been got away with.” “It's...
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10y ago from Motorsport.com
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