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McLaren facing vital court hearing to help secure financial future
McLaren is facing a key court case on the eve of the season-opening Formula 1 grand prix in Austria as it seeks to secure its financial future. McLaren Holdings Ltd is seeking what has been described by its lawyer, Tom Smith QC, as an "urgent" round of refinancing before July 17 when it is claimed it is set to face potential insolvency. Article continues under video The company is looking for a judgment that security held over its classic car collection and Technology Centre headquarters in Woking can be released, enabling it to raise the vital funds required. Smith has claimed that deals are in the pipeline that will allow the sale of the cars and a leaseback of the property....
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