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Arrows settle claim, but return in four weeks

Buying time
By Huw Alban October 14 2002
Despite the absolute silence from the team, there is still life lurking in the depths of Leafield. Arrows were due to be in court this Wednesday to face a winding up order from the Inland Revenue, but today both parties reach an out-of-court settlement. Arrows are back in court again in four weeks.

Pitpass.com was the first to break the news that Arrows were in court on the 16th of October, but it was the BBC today that confirmed that Arrows had bought itself some more time.

The case was brought against the Arrows Autosport company, but a team spokeswoman spoke to the BBC and confirmed that the matter had been resolved. This person also revealed that things were still progressing on the team sale front.

According to Pitpass the team are back in court again in four weeks time to face yet another winding up petition brought about by several other creditors, including 2002 driver Heinz-Harald Frentzen.

It would appear that Arrows are trying hard to buy themselves time in order to get a sale signed, in the meantime paying off creditors at the last moment to keep those hopes alive. The team source that spoke to the BBC added that, “The employees are at home waiting for their instructions and there are a large number of people working hard to sort things out.”


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