AVESCO Commence Legal Action Against Calder Park Raceway

[RaceTime]

6 September 2001

AVESCO COMMENCES PROCEEDINGS AGAINST CALDER PARK MOTORSPORT PROMOTIONS

AVESCO today announced that it had terminated its Agreement with Calder Park Motorsport Promotions Pty Ltd (CPMSP) and had commenced proceedings against CPMSP to recover the Rights Fee owed to AVESCO in connection with the Shell Championship Series event held at Calder Park in July this year.

AVESCO has commenced proceedings in the District Court of New South Wales, seeking payment of the 2001 Rights Fee together with interest and costs pursuant to its Agreement with CPMSP.

In announcing the commencement of proceedings today, Mr Wayne Cattach of AVESCO said "Our Agreement with Calder Park had been in place for several years. Calder Park has breached its payment obligations and, accordingly, we have terminated the Agreement and commenced proceedings to recover the money owed to us.

"I understand that Bob Jane on behalf of Calder Park has suggested that AVESCO's action has been motivated by a decision to move Shell Championship Series events away from Calder Park. This is not true. AVESCO has commenced proceedings for the sole purpose of recovering the 2001 Rights Fee and other entitlements under the Calder Park Agreement.

"As a consequence the Agreement with Calder Park has been terminated, and AVESCO is not prepared to consider future events at Calder Park at this stage."

It is expected that AVESCO's claim will be listed for directions before the District Court on October 12, 2001.

[Crash Test]

And his sanctioning fee is only $42,000....bugger me! He was getting away with murder...Tony must have been having a bad day when he negotiated that contract.

Do you really think Bob-
- doesn't have the money
- doesn't want to pay the money
- is playing silly buggers?

[RaceTime]

IIRC Bob had one more year to go in a 5 year contract - think he got in early so would have had a lower 'fee'.

What I think will be interesting is in the so-called 'cancellation' claimed by AVESCO - I would find it hard to believe that a simple non-payment in such a short time after the event would be written into the cntract and be the possible caused for either side to cancel it.

I think this one is going to go on for quite a while...

[sevi]

You are right RT I knew about this one before they even had the meeting there this year. This is just an excuse so that they do not look bad.

[jhayden]

Well if Calder is taken from the calendar, what is going to happen with the 2002 calendar? Is another circuit going to get a race and if so where???