Lotus has a new ultimatum with Renault

Renault's letter of intent allowed Lotus F1 Team to benefit from a new deadline to pay the British tax authorities.

Published on 28/09/2015 à 15:06

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Lotus has a new ultimatum with Renault

According to Reuters agency, Lotus F1 Team now has until Monday, December 7 to settle his debts to HMRC (Her Majesty's Revenue and Customs, which corresponds to the British tax authorities) which would amount to £2 (or almost €175).

The stable ofenstone benefited froma new reprieve of the High Court in London following Renault's letter of intent regarding the potential acquisition of the team as a majority shareholder. The purchase of the British structure by Losange would allow the latter to rebalance its financial status and avoid bankruptcy.

The lawyers of Renault and Lotus F1 Team only obtained this signature on the night of Sunday September 27 to Monday September 28 in order to be able to request a new reprieve from judge Colin Birss in charge of the case.

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