Sidley Austin and Taylor Wessing take pole position in F1 dispute
Sidley Austin and Taylor Wessing are among a raft of top firms in line to win advisory roles on the ongoing Formula One crisis. Eight F1 teams - the overwhelming majority of participants in the competition - are threatening to break away and set up their own series as a result of a dispute with the motorsport's governing body, Federation Internationale de l'Automobile (FIA), over budget capping for 2010.
June 19, 2009 at 11:17 AM
2 minute read
Sidley Austin and Taylor Wessing are among a raft of top firms in line to win advisory roles on the ongoing Formula One crisis.
Eight F1 teams – the overwhelming majority of participants in the competition – are threatening to break away and set up their own series as a result of a dispute with the motorsport's governing body, Federation Internationale de l'Automobile (FIA), over budget capping for 2010.
The Formula One Teams Association (FOTA), created last September by a leading group of racing teams including Ferrari, McLaren, Brawn GP and Williams, said last night (18 June) said that it had no choice but to begin preparations for a new championship after the FIA refused to remove the cap.
Since then, the FIA has announced that it plans to sue the breakaway teams. A statement said: "The FIA's lawyers have now examined the FOTA threat to begin a breakaway series. The actions of FOTA as a whole, and Ferrari in particular, amount to serious violations of law including wilful interference with contractual relations, direct breaches of Ferrari's legal obligations and a grave violation of competition law. The FIA will be issuing legal proceedings without delay."
The FIA is turning to US firm Sidley Austin for advice on the dispute, while Taylor Wessing is thought to be advising Brawn in relation to the issue.
It is understood that each team in FOTA is using its own legal external legal adviser, with the organisation taking advice from all of the firms, although it would not confirm the names of those involved.
Baker & McKenzie is understood to be advising McLaren. The firm is a longstanding adviser to the team and previously advised on its 2007 dispute with Ferrari, which led to a record-breaking $100m (£60.8m) fine for McLaren. On that occasion Ferrari turned to CMS Cameron McKenna.
Taylor Wessing recently advised on the creation of Brawn GP F1 through a management buyout of the Brackley-based Honda team which went bust earlier this year. The firm won the mandate as a result of a longstanding relationship with F1 heavyweight Ross Brawn through the firm's head of competition, EU and trade Martin Baker.
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