Results 1 to 5 of 5
Thread: will Lotus see out the year
-
7th July 2015, 08:12 #1
- Join Date
- Nov 2007
- Posts
- 2,386
- Like
- 0
- Liked 10 Times in 10 Posts
will Lotus see out the year
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.VERSTAPPEN: ‘If I’d let Sainz past, dad would’ve kicked me in the nuts!’
-
7th July 2015, 09:26 #2
- Join Date
- Mar 2002
- Location
- Perth, Australia
- Posts
- 5,675
- Like
- 6
- Liked 47 Times in 33 Posts
Yes, because Renault will buy the team for $1 and payoff the creditors at a fraction of their debt
Sent from my 0PJA10 using Tapatalk"I" before "E" except after "C". Weird.
- Likes: airshifter (7th July 2015)
-
7th July 2015, 12:17 #3
-
7th July 2015, 13:30 #4
- Join Date
- Jun 2011
- Posts
- 1,583
- Like
- 68
- Liked 182 Times in 139 Posts
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.
Last edited by zako85; 7th July 2015 at 14:03.
- Likes: truefan72 (7th July 2015)
-
8th July 2015, 20:26 #5
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).
"Every generation's memory is exactly as long as its own experience." --John Kenneth Galbraith
Sordo https://youtu.be/NKqJQLKlqDA?si=199ai_aOf2Qs8qJ7 Munster https://youtu.be/c_7JuAJ1W18?si=_GaShLZCbhDzO1Y3 Neuville https://youtu.be/squR_MO6I6c?si=rJEuQEKWMo-qghX5
WRC Testing