Team Lotus awarded rights to ‘Lotus’ name by London High Court – Formula 1 news
Formula 1 team Team Lotus has been given official rights by the London High Court to keep the name for the 2011 Formula 1 season.
The Court gave the rights to team Lotus’ owner Tony Fernandes and puts a full stop to the long running dispute over the naming rights.
However, the other party in the case Group Lotus, who sponsors the Renault team in Formula 1, have been given the rights to use the Lotus name for their commercial cars.
This puts an end to an almost five-month long dispute between Group Lotus and Team Lotus.
The owner of the Formula 1 Lotus team Fernandes was pleased on the decision and stated, “We are all pleased that it has been clarified that we are the rightful owners of Team Lotus, We have always been confident that the factual evidence we presented would
lead to this decision and today's judgment confirms that belief.”
The Malaysian added that now the team can concentrate on their efforts on Formula 1 and will try to make full use of the name by putting in some good performances in the upcoming seasons.
On the other hand, Group Lotus spokesperson, Sarah Price said that although the decision of the Court was taken with an open heart, yet there were still a few things which needed clarification in the near future.
“Despite the detailed judgment there are issues which still require clarification and we remain committed to obtaining this much-needed clarity for the many fans of the Lotus marque - we are extremely grateful for their continued support,” commented Sarah.
She added that apart from these issues, Group Lotus are happy that they will also continue to use the name with their team as well.
In 2009, Fernandes signed an agreement with Team Lotus to use the name to protect his investment in Formula 1. He bought the rights from the previous owner David hunt in 2010.
However, Group Lotus pointed out that Fernandes was unlawfully using the Lotus name for his Formula 1 team.
However, now that the case has been solved, both parties can concentrate on the upcoming Monaco Grand Prix on May 29, 2011.
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