DECEMBER 2, 2004
Pollock to sue BAT
Craig Pollock is reported to be taking legal action against his former partner British American Tobacco to prevent the tobacco giant from putting the BAR team's holding company into administration and then buying back the assets from the administrator. Pollock and a number of others own small shareholdings in the team, their involvement having been reduced because BAT converted the huge debts built up into equity and the small shareholders did not contribute and so were not issued with new shares.
BAT recently announced that it was selling 45% of the team to Honda. The two new partners did not want any involvement of others in the team.
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