An application to have the Group Lotus PLC car company wound up and its assets liquidated will go before Registrar Baister in Companies Court on Monday morning, according to court records.Such applications are usually lodged by creditors wanting to have a company liquidated and its assets sold off in an effort to recoup their investment in a loss-making business. A struggling business can also make its own application for a winding-up order to Companies Court, which is part of HM Courts and Tribunals Service, if it feels it is no longer a viable operation.However, Group Lotus PLC said that in this case the application was a formality and related to a matter already settled out of court, so...
Full Story »