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
Jack Miller “let everybody down” after crashing...
No description available...
3h ago from Motorsport.com
Raul Fernandez spent the ‘last lap crying'...
Raul Fernandez admitted he spent the "last lap crying" inside...
6m ago from MotorsportWeek.c...
Francesco Bagnaia explains Australian GP crash: “I...
No description available...
1d ago from Motorsport.com
Why Trackhouse felt pressure from its NASCAR success...
No description available...
19h ago from Motorsport.com
Popular On IndyCarToday.com
Mick Schumacher is “very open” to exploring an...
No description available...
5d ago from Motorsport.com
Rinus VeeKay wants “to make it hard on everybody”...
No description available...
4d ago from Motorsport.com
WATCH: Alex Palou talks F1 dream, perfecting his craft...
No description available...
5d ago from Motorsport.com
Rinus VeeKay signs with Juncos Hollinger Racing for...
Juncos Hollinger Racing has announced that it has signed Rinus VeeKay for...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Mārtiņš Sesks and Nasser Al-Attiyah join M-Sport...
WRC Promoter, SafetyCulture and M-Sport Ford World Rally Team are...
3h ago from MotorsportWeek.c...
Martins Sesks rejoins M-Sport for WRC Saudi Arabia...
No description available...
4h ago from Motorsport.com
Kalle Rovanpera even hungrier for third WRC title...
No description available...
16h ago from Motorsport.com
Thierry Neuville thankful for WRC safety protocols...
No description available...
15h ago from Motorsport.com
Popular On GunnersToday.com
A good Sunday leaves Arsenal in good shape
Morning. Well, that turned out to be a very good weekend for Arsenal, all...
3h ago from Arseblog.com
Player ratings: Fulham 0-1 Arsenal
Arsenal retained their place at the top of the Premier League following a...
11h ago from FreshArsenal.com
Jamie Redknapp is full of praise for 'fabulous'...
In a performance that reaffirmed his growing importance at Arsenal, Bukayo...
19h ago from CaughtOffside.com
“I want to play football!” - Months after contract...
Former Arsenal defender Takehiro Tomiyasu recently shared a message on his...
1w ago from SportsKeeda.com
Comments
Hottest News
Red Bull still has car update ‘up our sleeve'
Oct.20 Max Verstappen has reignited the Formula... Read More »
1h ago from OneStopStrategy.com
Ferrari verdict reached on Christian Horner as team issue...
Ferrari have affirmed their decision over the F1... Read More »
1h ago from GPFans.com
Lewis Hamilton hits Ferrari humiliation after breaking...
Lewis Hamilton claimed an unwanted F1 record with... Read More »
2h ago from GPFans.com
