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Judge blasts Walkinshaw

NEWS STORY
28/02/2003

Not for the first time, a High court judge has poured scorn on Arrows boss Tom Walkinshaw, accusing the Scot of being "over his head" with regards the running of his F1 team.

The Arrows F1 team, which had survived for 19 years until Walkinshaw bought it in 1996 from Jackie Oliver, is no more, and recently the mighty TWR organisation has crashed heavily.

Banks, Morgan Grenfell and two Deutsche Bank companies are suing Walkinshaw and his companies for compensation after TWR went into liquidation just weeks after Arrows. The action includes a personal claim against Walkinshaw for £10m.

Walkinshaw had asked for the actions to be thrown out but the judge is having none of it.

"Mr Walkinshaw left me with the clear impression of a man who was in over his head," said Mr Justice Pumfrey. "He appeared to lack the clarity of thought necessary to follow a clear policy. He obviously had a high opinion of his own business abilities, but my impression was different."

The judge stated that the banks taking the action claim they are secured creditors of both Arrows Autosport Ltd and Arrows Grand Prix International Ltd, and that they possess an indemnity from Walkinshaw. The Scotsman claims that the indemnity 'ran out' in July 2002, but the judge disagreed.

Arrows was finally wound-up in January following an action on behalf of Heinz-Harald Frentzen who has now returned to Sauber.

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