Group Lotus plc, the organisation which encompasses Lotus Cars, Lotus Motorsport and Lotus Engineering, could be wound up.
Ramifications for the company as yet unclearAn application has been made to the HM Courts and Tribunals Service to that effect. However, while the move could result in the partial or full liquidation of the company, a spokesperson from Lotus told PistonHeads categorically that that won’t be the case.
What this will mean in reality for the company, and whether the winding-up application has been made voluntarily by the company or by a creditor, remain unclear at this stage. However, we’re expecting a statement from Lotus later today which should clarify matters, and we’ll be sure to bring you more on that as we get it.
The Lotus F1 team, a completely seperate entity to the Hethel concern itself, is keen to point out that it will continue to operate as normal.
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Sounds like a non event, originally reported by Autocar?
If this proves to be correct (the Autocar mis-report), then best not buy the magazine…
Update by Autocar:-
An application to wind up Group Lotus plc has been dismissed by the High Court today.
As reported by Autocar this morning, the name of Group Lotus – which comprises Lotus Cars, Lotus Motorsport and Lotus Engineering – appeared on the Companies Court Winding Up list to be heard at the High Court.
Such cases are often the result of a creditor or group of creditors seeking to have a company’s assets liquidated as a result of failure to pay debts.
However, according to a statement issued by Group Lotus this afternoon, earlier this year the company was in a contractual dispute which was subsequently resolved amicably.
The High Court process means that the matter still has to be completed before a judge before proceedings can be formally disposed of. Today the claim was dismissed with no order as to costs.
Like most British motoring press, Autocar is all too keen to rubbish our own products in favour of something German or Italian
Think it was the world war 2 bomber on the moon and the bus frozen in ice found in the Antarctic and a V6 Elise to be unveiled in 2004 , oh wait the last one was in Autocar .
