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http://www.sbs.com.au/news/article/2...tion-adjourned
LONDON (Reuters) - A winding-up petition brought by creditors against the Lotus Formula One team has been adjourned for two weeks.
A spokeswoman for the Companies Court in London said on Monday that the claim against the Enstone-based team, title winners in a previous existence as Benetton and Renault, would be heard on July 20.
Yes, because Renault will buy the team for $1 and payoff the creditors at a fraction of their debt
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Renault, or maybe VAG will see this as a way into F1Quote:
Originally Posted by Robinho
One way or another, some kind of financial or ownership restructuring will be necessary for the Enstone team. The main issue here is that Genii Capital has sunk way to much money into the team trying to find a wealthy buyer, and now they just can't let it go. They think that by hanging onto a money-losing team they will somehow get the money back either directly from the team or by selling it to a third party at a ridiculous price. By hanging onto the losing asset for too long Genii Capital made a classic investor mistake. The real solution is to cut their losses now, and sell the team to the highest bidder.
I certainly hope so. Watching the tight battle between the midfield teams has been the highlight of the past two seasons for me, and I would say a lot of other fans as well. I want to see Force India take the midfield "championship", but I'd like to see Lotus place well too - then Toro Rosso, then Sauber... then McLaren (a lesson in humility will do Ron some good, I believe).