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 »
9y 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...
9y ago from SpeedCafe.com
Lotus tax case adjourned again
Lotus' case against the British tax authorities is adjourned for another...
9y ago from Crash.net
Strategy Group agrees engine cost cap
Formula 1 teams can look forward to cheaper engines in 2016 while Pirelli...
9y ago from PlanetF1.com
Sahara Force India battles with Lotus
Force India regained 5th position in the constructors championship ahead...
9y ago from F1Hub.net
Elsewhere On The Network
Popular On MGPToday.com
What riders are back on the MotoGP grid for Czech GP?
No description available...
13h ago from Motorsport.com
German GP signs deal to remain on MotoGP calendar...
The organisers of the German GP have announced that the race will remain...
19h ago from MotorsportWeek.c...
Fabio Quartararo bemoans Yamaha’s ‘zero...
Fabio Quartararo admits his Yamaha currently has “zero potential”...
18h ago from MotorsportWeek.c...
Marc Marquez: ‘I prefer to be pessimistic’ about...
Marc Marquez admits he prefers to be “pessimistic” over his chances...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Ed Carpenter Racing announces new Westfield...
No description available...
7h ago from Motorsport.com
Why it isn’t “unrealistic” for Alex Palou to...
No description available...
11h ago from Motorsport.com
Ed Carpenter Racing to build new IndyCar headquarters...
Ed Carpenter Racing announced on Tuesday that it will begin building a...
13h ago from MotorsportWeek.c...
Alex Palou opens ‘all the options’ in Ganassi’s...
Alex Palou won his seventh IndyCar race of the season on Sunday,...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Ed Carpenter Racing announces new Westfield...
No description available...
7h ago from Motorsport.com
NASCAR suspends two crew members for Cody Ware loose...
No description available...
7h ago from Motorsport.com
Why it isn’t “unrealistic” for Alex Palou to...
No description available...
11h ago from Motorsport.com
The winners and losers from F1's aerodynamic testing...
No description available...
13h ago from Motorsport.com
Popular On GunnersToday.com
Super-agent working to bring 'most gifted' Arsenal...
Rodrygo Goes continues to be linked with a move away from Real Madrid, and...
13h ago from CaughtOffside.com
“I am flabbergasted by Arsenal signing of him' -...
Paul Merson has slammed Arsenal for agreeing a deal to sign Noni Madueke...
12h ago from SportsKeeda.com
Arsenal latest: 'Nwaneri contract talks enter final...
No description available...
10h ago from SkySports.com
Merson 'shocked' by Madueke signing - 'Are Arsenal...
In his latest column, Sky Sports' Paul Merson dissects Arsenal's transfer...
15h ago from SkySports.com
Comments
Hottest News
F1 News Today: Lewis Hamilton Ferrari EXIT verdict issued...
F1 journalist Will Buxton has suggested that... Read More »
49m ago from GPFans.com
'Best day of my tv career!' - But how did Brundle rate Brad...
Martin Brundle says Brad Pitt made an... Read More »
39m ago from SkySports.com
Oscar Piastri 'push' after initial rejection revealed by...
Nice to be given a helping hand in your career by... Read More »
1h ago from RacingNews365.com
