JULY 3, 2002
Meanwhile in the High Court...
The question over the ownership of Arrows has been confused in recent weeks.
The word in legal corridors is that the case will decide whether or not the team will be seen at the British Grand Prix this weekend. The hearing began at 2pm Tuesday and went through the entire afternoon before being adjourned to recommence Wednesday morning. Morgan Grenfell and its associated companies wants Arrows (and its various related firms) to pay $20m before the sale is accepted.
Walkinshaw is understood to have made it clear that if he does not win the case the team is going out of business.
Creditors will no doubt be hoping that Walkinshaw does win as there will be a chance that they will be paid something as Mateschitz is known not to be short of a bob or two.
We understand that whatever happens in the Morgan Grenfell case there is likely to be another case at the end of the week when Jos Verstappen and his management go after Arrows again.