The Lotus F1 team case has been subject to a further adjournment until Dec. 21, following a hearing at the High Court in London on Monday.
This was supposed to have been the final chance for Lotus to deal with the main creditor - the UK tax authorities - but last week's confirmation that the purchase by Renault is to go ahead ensured that the judge agreed to allow more time. Renault has promised to pay the team's creditors by the end of the year.
The Renault share purchase agreement is due to be completed by Dec. 16, and had the deal not been confirmed, the team faced administration.
Emphasizing how precarious the situation was, Mr. Justice Birss said: “You got away with it... Or rather, it has been got away with.”
“It's the 16th for the SPA and they [Renault] are agreeing to pay all the creditors by the 31st,” team CEO Matthew Carter told Reuters. “So I guess when we come back on the 21st it will be to ensure that the SPA has been signed. It's been an interesting process all the way through but we are where we are.”
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