MAY 8, 2004
Meanwhile in the High Court...
Tom Walkinshaw, the former owner of the Arrows F1 team, may have to pay a $23.3m bill following a ruling in the High Court in London yesterday. The Morgan Grenfell company, which was in partnership with Walkinshaw, has been in legal action with Walkinshaw for the last couple of years, arguing that he guaranteed an overdraft facility related to the team. The claim was upheld by Mr Justice Lindsay but it is not yet clear how much money Walkinshaw will need to pay.
Arrows disappeared from Formula 1 in the summer of 2002 when the team ran out of money to go on racing.
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