NOVEMBER 23, 2004
We have to wait for a judgement
The Formula 1 world will have to wait for a judgement in the case of Speed Investments versus Formula One Holdings at the High Court in London. After two days of legal arguments, Mr Justice Park said that he will hand down a judgement in a few weeks after he has considered the case some more. Bayerische Landesbank, JP Morgan and Lehman Brothers had asked for a summary judgement but this is not going to happen. The three banks are contesting the appointment to the Formula One Holdings board of Swiss lawyers Luc Argand and Emmanuele Argand-Rey, arguing that although they own 75% of the shares in the business they do not have control of the company because of the way the board was chosen.
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