Google Search

Google

Featured Post of the Week

FULL REVIEW: Hyundai Sonata LF Nu 2.0

In this Blog entry, I'm reviewing a Long overdue Review on the Sonata LF Nu 2.0 D-CVVT. You are looking at All new Sonata LF 2.0.  I d...

Thursday, September 30, 2010

LOTUS vs PROTON: Long-drawn fight expected.

The Star: Thursday September 30, 2010

SOURCE:

http://thestar.com.my/news/story.asp?file=/2010/9/30/nation/7131281&sec=nation 

Long-drawn fight expected


PETALING JAYA: The cordial-turned-sour relationship between Lotus Racing Formula One team and Proton Holdings Bhd is not likely to be patched up any time soon.

Their fight over who owns the ‘Team Lotus’ rights, which has reached the British courts, is set to continue with Proton-owned Group Lotus insisting that former British racing driver David Hunt did not have the rights to the Team Lotus company.

It claimed that Group Lotus did not sign a deed to effect the transfer of the company after Hunt bought Team Lotus from a liquidator in 1994. Proton claimed it had lodged a lawsuit on that matter to secure the rights to use Team Lotus and its brand, said a source.

“The brand is about the company and the car,” the source said yesterday.

Hunt had recently sold his Team Lotus Ventures Ltd and the rights to the Team Lotus name to locally-backed Lotus Racing. Team Lotus is an iconic name in the motorsport world.

The privately-funded Lotus Racing team is jointly-owned by Tune Group founder and AirAsia group chief executive officer Datuk Seri Tony Fernandes, Tune Group co-owner Datuk Kamarudin Meranun and Naza Group chief executive officer SM Nasarudin SM Nasimuddin.
Fernandes, who is Lotus Racing team principal, announced last week that its team would be known as Team Lotus from next year’s Formula One season after buying Team Lotus Ventures from Hunt.

Proton then announced on Monday that it was terminating the Lotus Racing licence it gave to 1Malaysia Racing Team to race in Formula One. The relationship between Lotus Racing and Proton became more tense during the team’s maiden F1 season.

Lotus Racing on Tuesday had filed an application with the English High Court to declare that Team Lotus Ventures, which was now owned by Tune Group, was the rightful owner to the Team Lotus brand.
The court documents stated that the purpose for the declaration proceeding was to “establish the validity of Team Lotus Ventures’ position as the true owner of the name Team Lotus”.

Group Lotus owns the car-making and engineering companies under the Lotus banner while Team Lotus historically is the owner of the racing team.

Both companies were separated by Lotus’ original owner Colin Chapman to distinigush its functions in his company.

RELATED ARTICLES (All from The Star online):

1) Lotus-Proton saga: 
http://thestar.com.my/news/story.asp?file=/2010/9/29/nation/7123869&sec=nation

2) Battle over Team Lotus goes to English Court
http://thestar.com.my/news/story.asp?file=/2010/9/28/nation/20100928095849&sec=nation

3) More than a brand at stake in Lotus-Proton saga 

http://biz.thestar.com.my/news/story.asp?file=/2010/9/30/business/7129434&sec=business  

 THAT'S ALL FOLKS, Thanks for having the time and patience to read this blog entry.



No comments: