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I didn't read the entire document. But it sounds like a bank is holding McLaren assets as collateral or is in charge of releasing those assets to be used for collateral for future deal. Other investors view those assets as already acting as collateral for debt they own. The other investors don't want the collateral to be diluted with others debtors being brought into the picture. The bank is caught between McLaren and threats from existing debtors. Question is... what is the details of the financial agreements with the other debtors? Has McLaren offered assets to more than one party as collateral?
Am I getting this right? This sounds serious. Why is is the F1 press not talking about this? I understand the issue here with respect to McLaren > Zak Brown > Motorsports Network, but there are others who report content like this that are not "tied" to McLaren.
Richard
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