Lotus "is confident of avoiding a return High Court date with HMRC as it closes in on resolving its future in Formula 1," according to Ian Parkes of AUTOSPORT. The team "was forced into the High Court on Monday as a result of failing to pay one month's PAYE (income tax and national insurance) to HMRC, only for the case to be adjourned" until Sept. 18. The adjournment request "was made in good faith by HMRC and on the back of the judge," Justice Birss, receiving a confidential letter from a barrister acting on behalf of Renault. The French manufacturer "is on the brink of concluding a deal to acquire Lotus, with the final hurdle securing additional payments" from F1 CEO Bernie Ecclestone with regard to its status as a historic constructor. With Lotus's shareholders signing off on the financial arrangement with Renault last week -- £65M ($100M) for a 65% stake -- it is now a question of waiting to see if Ecclestone and Renault CEO Carlos Ghosn "can reach an agreement that would help push the takeover deal over the line" (AUTOSPORT, 9/9).
