Yesterday COTA said that Hellmund had committed in writing to arbitration to settle any dispute, but Hellmund quickly struck back by insisting that a proper court process was required.

A statement from Eric Wetzel of law firm Shipley Associates said: “If Bobby Epstein truly desires an efficient resolution of his dispute with Tavo Hellmund, as he now claims, he can simply honour the $18 million buyout agreement that he signed in September of 2011. If not, Tavo is prepared to amend his pleadings to include charges of fraud and other misdeeds, based on newly discovered evidence.

“We believe this evidence demonstrates that Mr. Epstein intended to force Tavo out of the F1 project from the beginning. As required by the September agreement signed by Mr. Epstein, these new claims will be litigated in the Travis County, Texas courts—not in a secretive arbitration proceeding.”

It will be interesting to learn where Bernie Ecclestone stands on the matter – and whether his patience will eventually run out…

COTA says that Hellmund committed himself and his companies to settling any disputes by arbitration. It quotes a partnership agreement as saying “any controversy, claim or dispute between or among the Company and any Member or among Members arising out of or relating to this Company Agreement or any other matters pertaining to the Company, shall be settled by binding arbitration.”

To that end, COTA says that it has “today filed with the District Court of Travis County, Texas, an amended plea in abatement and motion to compel arbitration.”

COTA has also agreed to release to the public information related to the dispute that had previously been sealed by the court.

Circuit Chairman Robert Epstein said: “Our intent from the beginning has been to resolve this matter efficiently through the agreed-upon binding arbitration process, and we feel that unsealing the court records moves us closer to this goal.”

COTA attorney Michael Whellan added: “We believe the facts made public through today’s filing strongly support our position that Mr. Hellmund’s claims and accusations—and his misrepresentations to Circuit representatives and the public about his ability to assign Formula 1 race contracts—only serve to undermine his case.

“We believe the tactics Mr. Hellmund and his legal team have employed to date are meant to purposely generate negative public sentiment about Circuit of The Americas in hopes of extracting a large settlement. Unfortunately, we do not expect these tactics to end anytime soon. Nonetheless, we are prepared to arbitrate this dispute as the parties have agreed to do in writing.”

Williams has also borrowed equipment from rivals who generously offered to help out.

“We lost about 90% of all the garage infrastructure, and pretty much everything IT related,” said chief operations engineer Mark Gillan. “So we lost all the radios, all the intercom equipment, all the rack equipment, all the IT storage system.

“So I would say about 90% of the complete garage infrastructure was destroyed, and on Bruno’s car we lost pretty much every metallic component as well, due to corrosion. So the fire took a heavy toll.

“We’ve been able to replace pretty much everything. We’re certainly fully operational. There’s a few things that we don’t have, such an abundance of radios and things like that, but it doesn’t stop us operationally. And we’ve borrowed equipment from other teams as well.

“Not only did they come to help with the fire and on that side, but they have come good on their promises of offers of support and with certain teams we’ve taken them up. So we’re borrowing equipment for the moment, and we’re fully operational. I was just saying to Sir Frank if you go to the garage you wouldn’t know we had a fire. It’s an unbelievable effort from everybody concerned.

“In reality you can run an F1 car with laptop if you have to – but you don’t want to, and we’re back, fully operational.”

Gillan admitted that the task would have been much harder if Spain was followed immediately by Monaco, as was the case in 2011.

“That would have been much more of a struggle of course – if it had been a back-to-back, it would have been a struggle. As it has been, it has been a struggle, and a lot of long hours have been worked by the people in the factory to prepare the things, because literally everything that was in that garage from an IT side and general infrastructure was destroyed.”

Gillan said the fire had been discussed with the other teams at a meeting of the FIA’s Technical Working Group, and Williams had passed on all its findings in an effort to improve overall safety.

“On the Friday afterwards I attended a TWG meeting. Things were still coming up, and I spoke to all the technical directors and the FIA to explain what our understanding was, and the chain of events that caused the fire. It happened in the fuel handling area, so it was a fuel handling related fire, but the exact cause, we’re still investigating. We’re liaising with the FIA to ensure that, not just within the garage, but obviously within the circuit, we improve things to ensure that something doesn’t happen again.

“I think there will definitely be a change to circuit procedures. But we have all agreed a certain level of cover at a circuit, and that level of cover was in place, so I think collectively we need to look at the level of cover, when it’s in place, both the fire and the medical support. Undoubtedly things will change as a result of this.”

Regarding the last hospitalised team member, Gillan added: “Things are going well there, and he should be out in about 10 days. He’s in good spirits.”

Schumacher has always talked about his comeback as a three-year plan, and in his third season he has yet to deliver.

“No, the decision hasn’t really changed,” said Schumacher in Monaco on Wednesday. “So far we’re not focusing on what happens next year or in the future. It’s more about what happens right now and the team and myself will get together, so there’s no news for you yet, unfortunately. I don’t really want to get involved in deep discussion other than what I just said, so let’s leave it at that.”

Asked to comment on the recent retirement announcement of Moto GP star Casey Stoner, Schumacher said: “My feeling is that most of those who have a little bit of involvement were surprised. So was I but then you have to respect that and I don’t know his reasons or his detailed reason but he’s young enough to have a sabbatical rather than a total stop and we’ll see.

“There’s definitely no parallel to me; it’s just that each one is very individual, why and for what reason he decides on his retirement. Mine, at the time, had nothing to do with any other reason than I wanted it to because I felt like I was tired, three years ago. That’s it.”

Despite his five-place grid penalty, Michael is optimistic coming into this weekend.

“I think we’re going to be in a position to be competitive. As a general track profile I think it’s going to suit ourselves. Indeed, I have been coming from the complete back and gone forward to fifth position I think. Let’s see from where I finally manage to qualify and start the race and what can be done. It is certainly not ideal, but it is what it is and I look forward to it and I’m going to have some excitement pretty certainly.

“I think we have quite a good car, quite honestly, because if you think where we’re coming from last year, we have made a huge step forward. We have proven that we are able to win races. Yes indeed, I have been a bit on the unlucky side but you see we’re a team, we are one big family and we win together and we lose together, it’s part of it.

“But no, I don’t feel at all disappointed – if anything, the reverse: more motivated because of how much progress we have made and I can see the future progress that we can make and that’s what is much more in my focus.”

James Hunt’s McLaren M23, one of many original cars on the Rush set

Shooting of Ron Howard’s Hunt/Lauda movie Rush concluded at Donington Park today after an intense three-month schedule that began in London back on February 22.

Since then the Rush crew has visited Brands Hatch, Crystal Palace, Snetterton and Cadwell Park as well as spending a large chunk of time at its own specially created pit/paddock facility at Blackbushe airfield.

There was also a foray to Germany, which included a recreation of Lauda’s 1976 crash at the original site at the Nurburgring.

While the shoot is over the hard work is just starting for Howard, who will be flat out in the coming months in conjunction with his long time editor Dan Hanley. Oscar-winning composer Hans Zimmer is providing the score.

The film is targeted for a release early next year.

In a statement, the company said that “three leading institutional investors have together invested US$1.6 billion in cash for equity interests in Formula 1, acquiring in aggregate 21% of the company.” It adds that “CVC will continue to be Formula 1′s largest and controlling shareholder.”

The three buyers are BlackRock, Norges Bank Investment Management, and Waddell & Reed.

CVC managing partner Donald Mackenzie said: “This is great news for Formula One and an important step in its development. CVC became the controlling shareholder of Formula One in 2006.

“Since that date we have supported the company and its management as they have grown the company with great success. The addition of these three highly regarded investors to our share register is validation of this success, and we look forward to working with our new partners over the coming year.”

The price values the business at over $7bn. Plans are still progressing for a public sale of F1 shares on the Singapore stock exchange.

Meanwhile Sky News has reported that Unilever chief financial officer Jean-Marc Huet will join the F1 board as a non-executive director.

Damon Hill and old F3 pal Martin Donnelly compare notes after the race

Damon Hill says he has no thoughts of a proper racing comeback – or perhaps doing a 24 hour race with son Josh – despite showing well in the VW Scirocco-R Cup at Brands Hatch last weekend.

Hill, who retired from F1 at the end of 1999, took part in the DTM support event for charity. He was joined by a group of contemporaries known as the ‘Rat Pack,’ all of whom have various degrees of F1 experience, and who were rather kindly classified as ‘Legends’ by VW.

Other previous occupants of the VW VIP cars include Arie Luyendyk, Patrick Tambay and Martin Brundle.

Despite his lack of knowledge of FWD touring cars Hill was actually fastest overall in free practice, ahead of all the young hotshoes. In qualifying proper Mark Blundell was quickest of the Rat Packers in fifth, ahead of David Brabham (7^th), Martin Donnelly (10^th), Hill (11^th), Perry McCarthy (24th) and Julian Bailey (26^th).

In the race Hill pitted for damage inspection after being hit from behind, and while he returned to the track he decided after a few laps that there was no point in continuing and possibly getting in the way of the leaders.

Brabham meanwhile won the class in fifth overall, ahead of Blundell (6^th) and Donnelly (10^th), while McCarthy and Bailey trailed home in 21^st and 24^th.

“I tell you what, it’s lovely to drive a race track on your own,” Hill told this blog. “But not when you’ve got a bunch of aggressive young guys. And very old guys as well!

“I loved the driving, I have to say I did love the seat of the pants stuff and just playing with the car, but it’s the aggressive racing I didn’t like. I got hit so hard from behind I thought I’d crashed into the wall backwards, but there was no damage. I couldn’t believe it.

“It’s been fun, but I think it reminded me of why I stopped racing as well. There’s more lows than highs…”

Hill and his colleagues were competing on behalf of the learning disability charity http://www.halowproject.org.uk.

The organisation is also behind an endurance kart event at Daytona Sandown Park on June 28th. More details of how to enter a team from Di Bird, mother of Merc F1 tester Sam, at di.bird@halowproject.org.uk.

Damon, wearing borrowed white helmet, looks confident before the start!

Six ‘legends’ on the podium, albeit three of them only as presenters!

The company president made the comments in an open letter to his employees.

Fernando Alonso is currently an impressive second in the World Championship, on the same points as leader Sebastian Vettel, after five races. However good fortune has played a part, and the consensus in the paddock is that the Italian team will have to make big steps with its car in order to stay in the hunt.

“The championship is very open and so far, there has not been one dominant force,” said Montezemolo. “A series of circumstances and the work done here to improve the car, as well as Alonso’s great ability, has led to us leading the Championship after five rounds. We must capitalise on that, with each one of us giving our very best at home and at the race track, including Massa who must bring home the results we expect from him.

“I know from [Stefano] Domenicali, with whom I am in constant contact, how hard all of you are working. Of this I am sure, also because winning the Championship depends only and exclusively on ourselves: on our ability, our creativity, our determination and our desire to show that we are the best.”

The team says the deal has been done “in the interests of continuity.” Sauber retains the remaining stake and is still team principal and president of the group.

“When BMW pulled out of Formula One in 2009, Monisha Kaltenborn was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO,” Sauber said in a statement.

“Transferring one third of the stake to her represents an important step for me in providing continuity. My desire is to ensure that the company continues to be led as I would want over the long term. Monisha Kaltenborn and my son Alex, who joined the company as Marketing Director in 2010 and has since also been a member of the Board of Management, both embrace this aim. It means we can offer our employees a positive outlook for the future.”

Kaltenborn added: “For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”

The company says that the decision will provide an opportunity to secure fresh investment or find a new owner.

A statement from Lola Group Holdings today said: “The latest economic downturn and the decision of HMRC not to pay ongoing R&D tax credits has caused a serious cashflow problem for the businesses. It is with enormous regret that a decision has been taken to issue Notices of intention to appoint an Administrator to Lola Cars International Limited and Lola Composites Limited.

“This step allows the board to continue its discussions with possible investors and prospective purchasers with a view to securing the best outcome for the staff, creditors and customers of both businesses.”

Lola says it won’t make any further comment until May 21.