16/01/2006
NEWS STORY
On Tuesday, BMW unveils its first Formula One contender, which we understand is to be designated the F1.06, in Valencia, whilst cross-country, testing resumes at Jerez.
However, the action isn't simply on-track this week, for a legal case of what some describe as "seismic" proportions gets underway in London, where McLaren is taking its former lawyers, Baker & McKenzie, to court over advice relating to the monies due following the sale of SLEC.
Previously, WilliamsF1 dropped an action against its (then) lawyers, Linklaters, regarding its advice relating to the same deal.
Both cases relate to a contract drafted by the lawyers which the teams believed would give them a share in the sale of SLEC. The teams subsequently signed the 1998 Concorde Agreement, assuming there would be a handsome pay out, but there wasn't. Consequently both teams sued their lawyers for negligence when drawing up the contract.
Interestingly, WilliamsF1 'settled' its case at virtually the same time as it signed up to the 'new' 2008 Concorde Agreement in December.
With a lot of 'dirty washing' due to be done in public, some are predicting that 'outside forces' might persuade the Woking boys to follow the example set by their Grove allies and settle.
The big question is however, if McLaren does settle, who - likewise with the WilliamsF1 settlement - financed the 'pay off'?