News Details
Court gives Lotus one week to seal Renault deal
The Lotus Formula 1 team were given a week to seal a deal with Renault or go into administration on Friday after a judge agreed to a final adjournment of a case brought against them by Britain's tax authorities. Lawyers for British-based Lotus had sought more time on the basis that a deal with Renault was imminent whereas administration would leave creditors worse off with the team likely to cease trading. Mr Justice Birss said he was satisfied a deal could be done and scheduled the next hearing for Sept. 28, the day after the British-based team competes in the Japanese Grand Prix at Suzuka. 'It is to be regarded as a final adjournment,' the judge, who agreed to delay the start of his...
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10y ago from GrandPrix247.com
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