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Old 11 Jul 2019, 19:49 (Ref:3917053)   #106
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Rich Energy need to get out of this with some face. They have no choice to me than to get rid of Storey. An embarrassment for all concerned
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Old 11 Jul 2019, 20:56 (Ref:3917058)   #107
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The battle for control continues...

https://twitter.com/rich_energy/stat...85021750464512

Whoever is in control of the Rich Energy twitter account (probably Storey) claims Storey is in charge, that the "palace coup" has failed and that he has the backing of all key shareholders. He also slags Red Bull and Whyte Bikes at the same time.

Will the real "Rich Energy" please stand up!

Just cancel the British GP and place a boxing ring on the start/finish line. Storey will take on all comers!

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Old 11 Jul 2019, 20:57 (Ref:3917059)   #108
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This is the gift that keeps on giving.
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Old 11 Jul 2019, 21:11 (Ref:3917062)   #109
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Bcarr6 should be qualifying in the top 10 on the gridBcarr6 should be qualifying in the top 10 on the grid
This is possibly becoming more entertaining than the F1 season itself.
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Old 11 Jul 2019, 22:05 (Ref:3917070)   #110
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You think they would have deleted that tweet about terminating their agreement with HAAS but they haven't? Very odd. I suppose it is giving them publicity....
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Old 12 Jul 2019, 03:03 (Ref:3917080)   #111
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The person who has access to the twitter account.
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Old 13 Jul 2019, 10:37 (Ref:3917325)   #112
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I wonder if builders could learn anything from this whole thing. Storey could certainly share with them the best approach in digging a deeper and deeper hole.
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Old 13 Jul 2019, 12:57 (Ref:3917339)   #113
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The car crash continues.

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Old 13 Jul 2019, 13:23 (Ref:3917347)   #114
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#tiresome #badperson #iwouldimaginetastelikecatwee
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Old 13 Jul 2019, 13:47 (Ref:3917361)   #115
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This is actually "old" news (yesterday), but figured to fill in the gaps in the story, I might as well post it here...

https://www.motorsport.com/f1/news/w...-case/4493480/

Basically, Rich Energy didn't pay the 35K court fees as directed, so Whyte is looking to go back to the courts to get that money...

Quote:
ATB will now be forced to take appropriate action to recover the costs that they have been awarded. This may include applications to the Court to wind up both Rich Energy and Staxoweb and to petition for the bankruptcy of Mr Storey.
So it looks like Storey is the majority owner. I am curious as to what recourse the minority shareholders have at this point. Is there a corporate malfeasance angle to be worked, or do they just have to sit back and ride this out?

In a recent tweet from Rich Energy...

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Following a board meeting of Rich Energy Ltd chaired by CEO William Storey and in light of the treacherous conduct of minority stakeholders the exclusive rights to distribute @rich_energy have been transferred to another company. Mr Storey retains complete ownership #RichEnergy
I assume this was to remove control of distribution from an entity that Storey didn't control? Maybe part of the distribution chain was previously run by a minority shareholder?

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Old 13 Jul 2019, 14:50 (Ref:3917379)   #116
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Well F1 is at least having fun with it and dueling energy drinks
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Old 14 Jul 2019, 15:32 (Ref:3917584)   #117
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For a company that has a net worth of -1,3M they sure do talk a lot of trash.
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Old 14 Jul 2019, 15:33 (Ref:3917586)   #118
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Rich at it again this morning.

https://twitter.com/rich_energy/stat...409007104?s=09
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Old 15 Jul 2019, 06:16 (Ref:3917747)   #119
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Rich energy have also tweeted a letter from the Haas teams legal representatives stating that Haas have given them 14 days to pay the outstanding sponsorship money, or Haas wil consider taking legal action to recover the funds, 35M, due to the team.


From the letter, it seems Rich Energy are in breach of contract, for not paying agreed fnds & for ending the contract before the first "break" date.


This could run for a long time.
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Old 15 Jul 2019, 07:39 (Ref:3917756)   #120
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Originally Posted by EastonNeston View Post
Rich energy have also tweeted a letter from the Haas teams legal representatives stating that Haas have given them 14 days to pay the outstanding sponsorship money, or Haas wil consider taking legal action to recover the funds, 35M, due to the team.


From the letter, it seems Rich Energy are in breach of contract, for not paying agreed fnds & for ending the contract before the first "break" date.


This could run for a long time.

In my very limited experience with legal representatives it has always been the case that they lose interest quite quickly if it becomes apparent that there is insufficient money present to pay the bill.I have absolutely no doubt that Haas can afford good representation and will be seeking to safeguard their position.
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