Thread: 2007 Driver Potential Line Up/Movements (MERGED x38)
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Old 7 Feb 2007, 07:53 (Ref:1835149)   #1955
GTRMagic
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- 2x L1 franchise licence slots owned by party A.
- Agreement in place with party B to onsell franchise licence slots.
- Party C buys single franchise licence slot from Party B
- Party C is indemnified from any legal proceedings (sold in good faith) by Party B
- Party D buys legal entity of party B
- Party A says there was a reserve price
- Party B says there wasnt.
- Party A claims party D bought the franchise licence slot for significantly less than market rate.
- Party A takes both party B and party D to Qld Supreme Court
- Party A said to be in front at the end of day 2 of proceedings
- Party A's remedies include reversion of party D's single L1 franchise licence slot, and/or cash equivalent/restitution for other licence sold if required + damages
- Party D sitting scared that his team will have no franchise licence slot to enter his green, gold & black racecar...
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