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
Marco Bezzecchi tops rain-affected Thai MotoGP timed...
Aprilia’s Marco Bezzecchi continued his early-season momentum as he...
40m ago from MotorsportWeek.c...
MotoGP Thai GP: Marco Bezzecchi lays down ominous...
No description available...
30m ago from Motorsport.com
Marco Bezzecchi leads the way after Thailand MotoGP...
Aprilia rider Marco Bezzecchi topped the timesheets in the first official...
5h ago from MotorsportWeek.c...
2025 MotoGP Thailand Grand Prix – How to watch,...
No description available...
15h ago from Motorsport.com
Popular On IndyCarToday.com
How to watch 2026 IndyCar and NASCAR at St. Pete:...
No description available...
12h ago from Motorsport.com
PREMA confirmed to miss opening IndyCar round
PREMA will not be present for this weekend’s season-opening round of...
1d ago from MotorsportWeek.c...
Marcus Ericsson going into 2026 season with “chip on...
No description available...
1d ago from Motorsport.com
Ed Carpenter Racing enter technical partnership with...
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Why Esapekka Lappi was so happy at WRC Rally Sweden
No description available...
23h ago from Motorsport.com
Acropolis Rally's Thursday parc ferme will be on a boat
No description available...
1d ago from Motorsport.com
Hyundai “realistic and optimistic” in mission to...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Paul Merson names Liverpool star as the best ever...
Paul Merson has named Liverpool talisman Mohamed Salah as the best winger...
1h ago from SportsKeeda.com
'I can guarantee…' – Fabrizio Romano...
Transfer news expert Fabrizio Romano has reported that Arsenal will look...
3h ago from CaughtOffside.com
The Ben White tangent + Arseblog turns 24
Morning all. After a quiet week, things will start to build up again today...
2h ago from Arseblog.com
Paul Merson predicts Arsenal vs Chelsea and other...
Another week rolls on in the Premier League and we've also got Friday...
20h ago from SportsKeeda.com
Comments
Hottest News
Aston Martin F1 lifeline emerges but crisis team must wait...
One comfort will restore a modicum of hope to... Read More »
1h ago from GPFans.com
Red Bull locks in tech giant Oracle with new long-term F1...
As Formula 1 enters its new technical revolution,... Read More »
30m ago from F1i.com
Test event in the pipeline as new F1 venue nears completion
Excitement is building ahead of F1's return to... Read More »
1h ago from RacingNews365.com
