It will come as no surprise to anyone who’s been following Group Lotus recently, that Dany Bahar, who was fired as CEO back in June this year, has initiated a claim for £6.7m ($10.6 million) against his former employers for “unlawful early termination of his employment”.
We are hearing this morning that Mr Justice Peter Smith has dismissed the appeal made by Group Lotus, against the ruling which allowed 1Malaysia Racing Team to continue using the Team Lotus name in Formula One.
Just over an hour ago the High-Court case between Team Lotus and Group Lotus reached its conclusion and as we expected Mr Justice Peter Smith made his verdict in favour of Tony Fernandes’ 1Malaysia Racing Team, who were judged to be the true owner of the ‘Team Lotus’ name and its iconic roundel.
The golden heads of rapeseed flowers wallowed loftily next to a lush green Duxford meadow last Wednesday. A more fitting backdrop to the stunning livery of the new Team Lotus Caterham could surely never be found.
If you’ve been following this morning’s announcement of the acquisition of Caterham Cars by Team Lotus Enterprise (TLE), then you’ll already have spotted this tasty looking Caterham Seven – decked out in the Team Lotus Formula One squad’s colours – posing for photos with the official 2011 Team Lotus F1 cars.
Well it was perhaps the worst kept secret of the week, and yet the buzz and anticipation at this morning’s press conference was palpable as the gathering of journalists awaited the Headmaster (Tony Fernandes). We’ll bring you a separate report from Steve Hindle, who attended the conference plus some insights from his interview with Andy Noble, Sales and Marketing Director for Caterham Cars.
It’s been no secret that Corven, the private equity group who funded the buy-out of Caterham from the Nearn family, have long been seeking to retrench their investment. Despite a barrage of gilded PR, the introduction of new models, and ventures with household names ranging from Top Gear to Marks & Spencer, life since 2005 has not been easy for the Dartford outfit.
Well it’s been a fascinating few days since news of a tie-up between Team Lotus and Caterham emerged. The Hingham-based outfit announced a major press conference to be held at Duxford Airfield next week , prompting rumours about what’s likely to be on the agenda.