Lotus resolves legal issue with key supplier

The prospect of the Lotus Formula 1 facing administration after legal action by a supplier has been resolved after the team came to arrangement with gearbox component manufacturer Xtrac.

Xtrac had submitted a winding-up order earlier this month in an effort to retrieve unpaid monies.

Lotus faced a court hearing in London today after a two-week postponement since the last hearing.

However an Xtrac spokesman told Motorsport.com that the issue had been settles.

"Xtrac and Lotus F1 have taken key steps to resolve the matter out of court," he said.

"We look forward to continuing a positive working relationship with Lotus F1. Xtrac has no further comment for now."

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About this article
Series Formula 1
Drivers Romain Grosjean
Teams Lotus F1 Team
Article type Breaking news
Tags xtrac