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Renault to pay Lotus debts by end of year
French carmaker Renault aims to complete its takeover of the Lotus Formula 1 team on 16 December and pay creditors, including Britain's tax authorities, by the end of the year, the High Court heard on Monday. All parties in a protracted case brought against struggling Lotus by the Revenue and Customs authority over unpaid tax, with other creditors also represented, agreed to a further adjournment to 21 December. 'We are in a different territory now,' a lawyer for the team told the court. 'You got away with it…or rather, it has been got away with,' commented the judge, Mr Justice Birss, after hearing none of the creditors objected to the adjournment that he said was clearly in the...
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