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Lotus' 'winding-up' petition adjourned

2015-07-07 10:01

BREATHING SPACE: Lotus' has been given a break from its financial woes after a British court delayed a winding-up petition. Image: AP / Manu Fernandez

LONDON, England - A winding-up petition brought by creditors against the Lotus F1 team has been adjourned for two weeks.

A spokeswoman for the Companies Court in London said on Monday (July 6) that the claim against the  team, title winners in a previous existence as Benetton and Renault, would be heard on July 20 2015.

LOTUS NOT FOR SALE

Lotus, who now race with Mercedes engines, have had financial problems although the signing of Venzuelan Pastor Maldonado has brought considerable backing from state oil company PDVSA.

The team's chief executive Matthew Carter says Lotus are not for sale despite persistent paddock speculation linking them to Renault.

Carter told the autosport.com website the case would have no bearing on their future.

'RESOLUTION HAS BEEN FOUND'

Carter, referring to the two teams that went into administration last season, said: "A number of suppliers are feeling a little bit negative because of what happened to Caterham and Marussia and they felt they had to go down this process."

Caterham eventually folded while Marussia lived to fight another day under new ownership.

Carter said:"A resolution had already been found, that's why the process has been adjourned. Things are being dealt with."

Lotus failed to score points at Sunday's (July 5) British GP after Maldonado and French team mate Romain Grosjean collided on the opening lap.

Watch a Vine of the crash here:

Stay with Wheels24 for the 2015 F1 season – fresh reports every week.


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