Lotus dodges winding up petition in court

JULY 7, 2015

Lotus dodges winding up petition in court

Reports of financial strife at Lotus have resurfaced this week.

Amid speculation the team's absent-in-2015 owner Gerard Lopez is set to sell the Enstone squad back to Renault, reports said a matter went before a London court on Monday.

Reuters said it was a "winding-up petition", which is basically a legal request made by an unpaid and disgruntled creditor, demanding administration and ultimately liquidation of a company.

A spokesperson for the Companies Court was quoted as saying the matter was adjourned for now until July 20.

Sky reported that the delay is to "allow the team time to find a resolution to the matter".

And Lotus chief executive Matthew Carter was quoted by Kleine Zeitung newspaper: "Some suppliers have a bad feeling after what happened with Caterham and Marussia."

He added that a "solution" to the matter has already been found, "which is why it was adjourned".

Carter has also been quoted as denying reports Lotus is set to be sold to Renault.

"I checked this with Matthew Carter," British broadcaster Sky's pitlane reporter Ted Kravitz said, "and he said 'No, the team is not for sale and there's no truth in a potential sale to Renault'."

(GMM)

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