Mazepin loses court case over Force India, goes on appeal
F1 News
- GPblog.com
Uralkali, one of Dmitry Mazepin's companies, today lost the case against FRP Advisory, the party that handled the 2018 sale of Force India. The company has now appealed.
The takeover of Force India
Mazepin, together with Uralkali, was one of the bidders to buy out Force India in 2018. In addition to the Russian company, Rich Energy and Lawrence Stroll with his company Racing Point were also present. Eventually, the team was sold to the current owner Racing Point, something Uralkali disagrees with.
According to Uralkali, the sales process was unfair and biased. This is because Racing Point (£90 million) offered much less than Uralkali (£101.5 million). Geoff Rowley and Jason Baker of FRP Advisory would therefore not conduct a fair and proper sales process.
Appeal
Uralkali has stated in a statement that he is appealing against the ruling. “Although Uralkali is disappointed with the decision of the trial court, it is pleased that the trial confirmed a number of its prior statements, including the fact that Uralkali’s bid for the assets of Force India Formula One team was higher than the winning bid. Uralkali intends to seek permission to appeal the decision handed down today and to continue to protect its rights in accordance with applicable legal procedures”, as can be read on Motorsportweek.com.