Whyte Bikes has confirmed that Haas sponsor Rich Energy has failed to pay the £35,416 in legal damages due to the bike company following its recent copyright infringement case.
Another day, another episode in the saga of Haas title sponsor Rich Energy and its bohemian CEO William Storey.
Back in May, Whyte won an action against Rich, Storey and logo designer Staxoweb for a copyright infringement and improper use of Whyte's stag head logo.
The court decision compelled the three defendants to pay £35,416 in legal costs to Whyte by July 11, an obligation that was not met.
Whyte Bikes stated the following:
"On 27 June 2019 the High Court in London made various orders against the Defendants, Rich Energy, William Storey and Staxoweb. One of the orders was that they should pay to Whyte [ATB Sales] costs totalling £35,416 by 11 July 2019.
"The Defendants have failed to pay any of the costs award. Each of the Defendants is jointly liable for the whole amount of costs awarded.
"ATB will now be forced to take appropriate action to recover the costs that they have been awarded. This may include applications to the Court to wind up both Rich Energy and Staxoweb and to petition for the bankruptcy of Mr Storey."
Coincidently - or not - the missed payment deadline occurred on the same day as "a rogue individual" - in realty Mr. Storey - communicated through Twitter Rich Energy's decision to terminate its sponsorship agreement with the Haas F1 Team.
A decision that was challenged by a group of Rich shareholders who claimed that a procedure had been initiated to unseat Storey from his position as CEO, a move the shady frontman labeled as a failed "palace coup".
In short, Whyte rightly wants its outstanding claim for damages paid, so a winding up order could soon be heading Rich Energy and Storey's way.
Stay tuned…
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