The FIA has delayed any decision to take action against Arrows until the team has resolved its current financial problems. The FIA requested a written explanation from the team concerning it not taking part in recent races and was considering what action, if any, to take. Arrows paid off a major creditor this week but others are queuing up.
The High Court in Leeds, UK, granted a stay of execution to Arrows when a 'winding up' petition bought against it by Champion Recruitment Ltd was adjourned for 28 days. Formula One's governing body released a statement today saying the following:
"The FIA has noted the continuing failure of Orange Arrows to participate in recent Formula One events. If this failure were due to insolvency, Arrows would lose its rights under the Concorde Agreement."
"However, at present the FIA has no hard evidence that Arrows' absence is due to insolvency rather than to some other cause. In the circumstances, the FIA intends to wait until various negotiations and proceedings relating to Arrows have been concluded before considering any formal action."
Missing races can incur a heavy fine or possible expulsion from the championship. Arrows may have been given some breathing space at the moment but penalties could still be handed out in the future. It's very unlikely that the team will compete in the Italian Grand Prix at Monza this weekend.