Russian fertilizer giant Uralkali - a Racing Point Force India sponsor - has initiated legal proceedings against the administrators who handled the team's recent takeover by a group of investors led by Lawrence Stroll.
The Russian company, which includes Dmitry Mazepin on its board of directors, the father of 19-year-old GP3 racer and Force India development driver Nikita Mazepin, is alleging "inadequate responses" from FRP Advisory's administrators, Geoff Rowley and Jason Baker.
Uralkali also contends that it significantly outbid Stroll's consortium during the proceedings that took place last month, claiming therefore that "the highest bid should have been determined as the winner".
Furthermore, Uralkali believes the administration process "failed to achieve the maximisation of sale proceeds for the benefit of creditors, shareholders and other stakeholders", despite the company's "extremely generous" cash offer of between £101.5million and £122million.
In short, Uralkali - which intended on using Force India as a marketing tool - is at a loss to understand why its offer was rejected in favour of the Stroll-led consortium that took over the defunct team's assets.
"Because of these concerns and the costs of our bid, as well as potential large business revenue losses, Uralkali has no option but to launch these proceedings and seek substantial damages," the company stated.
According to Motorsport.com, the joint administrators have not yet been made aware of Uralkali's claim.
"No such claim has been received by us or, as far as we are aware, by the Court," they said in statement.
"If a claim is issued it will be defended vigorously.
"We have fulfilled our statutory duties as administrators throughout this process and ultimately achieved a very successful outcome for all stakeholders.
"Any legal action brought against us will be defended vigorously, and we are confident it would be dismissed."
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