Uralkali initiated legal proceedings against administrators FRP Advisory yesterday. FRP responded by defending their handling of the administration and stating they expect the case to be dismissed

Speaking to RaceFans, Uralkali senior independent director Paul Ostling explained why they had brought the case and what they expect to get out of it:

We have sued the administrator for misrepresentation and a poor process and we have sued for tens of millions of sterling in damages from the costs we incurred in bidding and the lost prospective benefit we expected to gain.

This will now go to court. They will try to throw the case out. That’s what they say: the case is going to be thrown out.

We have full faith in the British court system. We understand this is going to go to the court. We understand the judge will listen. We understand all of that. And we expect to be challenged, we expect to win, we do not expect the case to be stricken out – I think it’s ridiculous for [them] to say it will be stricken out – the court will decide that and we have faith in the court.

Once the court moves forward the court will have discovery. We have no secrets and everything will come out. If the court decides the process was bad enough that they throw out the sale, we want to buy the team.

Our bid is still on the table. We’ve been telling Geoff [Rowley, joint administrator at FRP] our bid is on the table since the day we found out he didn’t accept it, particularly since the day we understood that Stroll’s rescue attempt failed – which we knew it would fail because it was impossible – and which the administrator told us on August 2nd in the office of his lawyers he thought it would fail.

And so we still want to by the team, of course, absolutely. And if the court decides the process is bad enough, that there’s an opportunity to buy the team, we want to buy the team.