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Lotus F1 team faces winding-up petition
The Lotus Formula 1 team is facing legal trouble in the wake of a winding-up petition from a group of creditors that includes gearbox component supplier Xtrac. A hearing at Companies Court in London that was scheduled for Monday was adjourned for two weeks in order to give the parties further time to talk. If there is no resolution, then there is a risk at the future hearing of Lotus being put into administration, which would cast doubts over its future. Adjournment Xtrac has made it clear that it is eager to continue its relationship with Lotus, but only if outstanding debts are paid. "The judge has adjourned the hearing for two weeks," an Xtrac spokesman told Motorsport.com....
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9y ago from Motorsport.com
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