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It's now 12:20 p.m. ET U.S., court is in recess till 1:30 p.m.
Where to start?
My post above pretty well says it but the $63 million loan from one CART company to the other has everyone pretty confused that I've talked to/emailed.
It has not appeared in any SEC documents previously or court documents that I've seen and came out of the blue. It's pretty routine that holding companies and their subsidiaries move money back and forth but the integrity of this being revealed as one of a number of threats and challenges OWRS is making to go for the throat isn't being viewed well by the judge and some in the courtroom. Even Heitzler is there threatening to sue on behalf of the Mexican races if IRL gets the bid. They're intimidation tactics.
As far as I can tell, no ruling has been made on whether or not to pull the plug on the Laguna and Road America objections to transfer.
Everyone coming out says it'll be done today.
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