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Lotus F1 team faces winding-up petition
The Lotus Formula 1 team has been given two weeks to reach an agreement with creditors after a winding-up petition was adjourned. Lotus Formula 1 Ltd featured on a winding-up list of the Companies Court on Monday with the hearing delayed until July 20 by judge Mr Registrar Briggs. If the team is unable to come to an agreement with its creditors there is a chance the outfit would be placed into administration. The Enstone operation, currently sixth in the constructor standings, has faced financial struggles in recent seasons. Despite facing a winding-up petitions, Lotus CEO Matthew Carter is confident the team will resolve the issue it has with its creditors. Gearbox manufacturer Xtrac has...
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