Previous owners left £256K unpaid legal bills at Caterham

This document lists Caterham's unpaid legal bills from 2013

This document lists Caterham’s unpaid legal bills from 2013

The previous owners of the Caterham F1 team failed to pay over £256,000 in legal fees before the team was sold to a consortium in June, court documents show.

The fees represent one of a number of unpaid bills left behind by the previous regime that the new owners have had to deal with.

Legal firm Macfarlanes LLP has taken steps to recover the money plus interest in an action against both 1Malaysia Racing Team and a second defendant, Caterham Sports.

Most of the bills relate to Caterham suppliers Aerolab and Fondtech, and a legal battle with Force India over IP.

A formal claim from Macfarlanes states: “In and between May 2010 and December 2013 the Claimant provided legal services to the First and Second Defendants at the request of the Defendants or one of them.

“Between 30 January 2013 and 18 December 2013, the Claimant sent 18 invoices to the First Defendant to a value of £456,927.73 which remain either unpaid or partly unpaid. A list of the said invoices is served herewith as Schedule 1.

“The Defendants have from time to time made part payments, but despite demand having been made, there remains due and owing a balance of £256,917.54.

“The Claimant seeks the recovery of the said sum of £256,917.54 owed by the First Defendant and/or Second Defendant.

“The Claimants also seek interest pursuant to section 35A of the Senior Courts Act 1981 at the rate of 8% per annum from 30 days after the date of each individual invoice in the sum of £26,794.77 as particularised in Schedule 2 served herewith.”

1 Comment

Filed under F1 News, Grand Prix News

One response to “Previous owners left £256K unpaid legal bills at Caterham

  1. AndyS

    The lawyer’s have just got to have their pound of flesh…..Plus interest!

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