user icon
user icon

Uralkali receive disclosure order in Force India case

  • Published on 21 Dec 2018 11:55
  • comments 0
  • By: Fergal Walsh

The Russian company Uralkali, who failed to win a bidding process for the sale of Force India in August, has been granted documents by the consortium called 'Racing Point', who successfully took over the Force India team after it fell into administration.

Uralkali, which is run by Russian businessman Dmitry Mazepin, was upset that FRP Advisory, who was appointed as Force India's administrator, did not handle the sale appropriately, stating that the "process conducted by the Administrator may not be in the best interests of Force India creditors and other stakeholders, and the sport in general."

The company has struck up a legal battle against FRP Advisory, stating its intent to sue in September due to “misrepresentations and lack of transparency” in the process of bidding and “failing to achieve the maximisation of sale proceeds for the benefit of creditors, shareholders and other stakeholders”.

In a new statement released by Uralkali, it says: “The Southern District of New York issued an order earlier this week compelling [John D. Idol, a member of the Racing Point consortium] to provide documents in his possession which are relevant to Uralkali’s claims brought in the UK against the administrators of Force India Formula One Team.”

Uralkali also filed a similar application against John McCaw Jnr, another investor that is part of the consortium. More applications against other members of the consortium, which include Lawrence Stroll, are being considered.

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

Test calendar

Circuit de Catalunya - Winter testing

Circuit de Catalunya - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

World Championship standings 2020

Show full world champion standings

Driver profile

  • Country Russian
  • Date of b. Mar 2 1999 (21)
  • Place of b. Moskou, Russian
  • Weight 65 kg
  • Length 1.75 m
Show full profile

Team profile

Show full profile

Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
3 - Jul 5
Austria
10 - Jul 12
Austria
17 - Jul 19
Hungary
31 - Aug 2
United Kingdom
7 - Aug 9
United Kingdom
14 - Aug 16
Spain
28 - Aug 30
Belgium
4 - Sep 6
Italy
11 - Sep 13
Italy
25 - Sep 27
Russian
9 - Oct 11
Germany
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
3 - Jul 5
Austria Red Bull Ring
10 - Jul 12
Austria Red Bull Ring
17 - Jul 19
Hungary Hungaroring
31 - Aug 2
United Kingdom Silverstone
7 - Aug 9
United Kingdom Silverstone
14 - Aug 16
28 - Aug 30
4 - Sep 6
Italy Monza
11 - Sep 13
Italy Mugello
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
Germany Nurburgring
See full schedule
show sidebar