Losing Force India bidder threatens legal action

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Losing Force India bidder threatens legal action
Adam Cooper
By: Adam Cooper
Aug 25, 2018, 8:24 AM

A Russian company whose bid to buy the Force India Formula 1 team failed has threatened legal action if it doesn’t get "satisfactory explanations" about the way the administration process was conducted.

Earlier this week chemical company Uralkali, which is closely associated with Dmitry Mazepin, insisted that it had made a viable bid for the team, and questioned the way a consortium led by Lawrence Stroll was able to buy the assets.

Since then the FIA has accepted the renamed Racing Point Force India as a new entry at the Belgian Grand Prix, while more information emerged about the restructured organisation.

On Friday, Uralkali wrote to the administrator, FRP Advisory, asking for answers - and vowed to take court action if it doesn't get them by September 10.

A statement attributed to Uralkali independent director Paul Ostling, who led the bid, said: “Uralkali has serious concerns about the conduct of the bid process for the acquisition of Force India.

“Debevoise & Plimpton LLP, Uralkali’s lawyers have accordingly this evening written to the administrators, FRP Advisory LLP, informing them that unless satisfactory explanations are forthcoming by 10 a.m. British Summer Time on 10 September 2018, court proceedings will be brought against them.”

Last week the administrators – Geoff Rowley and Jason Baker of FRP – responded to Uralkali’s original statement by insisting that all bidders for the team were treated equally.

“All bidders were given equal opportunity to submit the best deal for Force India,” they said in a statement.

“Throughout, we (the Joint Administrators) have closely followed our statutory duties and objectives as administrators and had the advice of experienced legal counsel.”

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About this article

Series Formula 1
Teams Force India , Racing Point Force India
Author Adam Cooper
Article type Breaking news