Uralkali to get its day in court in Force India takeover case

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Former Force India sponsor Uralkali, which figured among the team's potential suitors last year, will have its day in court following its decision to contest the sales process overseen by the outfit's administrators.

Uralkali, a Russian potash producer which is partially owned by Dmitry Mazepin, the father of Formula 2 racer Nikita Mazepin, is suing FRP Advisory LLP's Geoffrey Paul Rowley and Jason Daniel Baker, the administrators of the Force India entity

Uralkali claims the company was the highest bidder for the team's assets, and unfairly lost out to the Racing Point consortium led by Lawrence Stroll. It is now seeking "substantial damages" as a result of what it considered as a "flawed sales process which ignored a higher bid for the business".

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"The offer proposed sufficient funding to satisfy the claims of all creditors in full and included an undertaking to provide significant working capital and a new investment program over a five-year term to ensure the future success of Force India," the company said in a statement.

"The Company estimates that, after repayment of all valid claims of creditors and administrator’s costs its proposal would have resulted in more than £40 million being available to Force India`s shareholders and, consequently, further used as a source of repayment of any stakeholder claims."

"Based on facts confirmed to us by the Administrators, the bid accepted by the Administrators was significantly inferior to Uralkali’s bid. Uralkali’s bid should therefore have been the winner."

Uralkali's original bid was estimated to be between £101.5 million and £122 million for the team "depending on the specific structure of other bids".

London's High Court will address the case sometime between October and December 2020 based on evidence submitted by all involved parties.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.