Lotus' legal battle with UK tax authorities has been adjourned for a third time to allow Renault to complete its purchase of the team and reach agreements with creditors by the end of the year.
The latest adjournment, until December 21, was agreed by all parties on the basis that Renault will complete its takeover by December 16 and agree payments to creditors, including HMRC, by December 31. The case had previously been adjourned twice, most recently in September when Renault's letter of intent to buy the team saved the team from the threat of administration.
Speaking outside the courtroom, Lotus CEO Matthew Carter said the process is now in place to allow Renault to take over the team and pay creditors.
"It's the 16th for the SPA (share purchase agreement) and they (Renault) are agreeing to pay all the creditors by the 31st," he told Reuters outside the courtroom. "So I guess when we come back on the 21st it will be to ensure that the SPA has been signed.
"It's been an interesting process all the way through but we are where we are."