Super Nova statement on pending litigation

Super Nova Racing Ltd would like to publish the following statement of facts surrounding the current litigation between Brask Management Ltd, Pantano Motorsport Ltd against Super Nova Racing Ltd as there has been so much press speculation regarding this case.

On 5th and 6th March 2002 in the High Court of Justice Queen's Bench Division London the hearing took place between Giorgio Pantano, Pantano Motorsport Ltd and Brask Management Ltd as the Claimant and Super Nova Racing Ltd as the Defendant. An order was made by Mr Justice Henriques that 1) the Claimants application be dismissed; 2) permission to be refused to appeal; 3) the Claimants pay the Defendants costs of the application. The Claimants had tried to seek an injunction to effectively compel Super Nova Racing Ltd to enter Giorgio Pantano in the 2002 Formula 3000 International Championship.

On 20th May 2002 in the High Court of Justice Queen's Bench Division London a directions hearing was heard between Giorgio Pantano and Pantano Motorsport Ltd the Claimants and Super Nova Racing Ltd the Defendants. The Claimants were attempting to seek exemplary or punitive damages. Upon hearing Counsel for both parties, any claim for exemplary and punitive damages were struck out. The costs of this application and the hearing should be paid by the Claimants to the Defendants within 28 days. In addition the Master of the Court stated that Super Nova Racing Ltd can now proceed to a court assessment of the costs of the injunction proceedings.

Giorgio Pantano and Pantano Motorsport Ltd have to prove at the next court hearing on 24th June that they really have sustained any damages which appears to be difficult as Giorgio Pantano is currently jointly leading the championship with Coloni Motorsport, the contract with whom was negotiated by David Sears of Super Nova Racing Ltd and at less cost than the original proposal with Super Nova Racing.

These are the current facts that surround this case.

-snr-