HRT F1 Owner's Assets Frozen by Spanish Court

Not scoring a single point in this year's Formula One championship and not having at least the prospect of scoring it until the season end – unless 12 cars fail to finish the race and a HRT challenger is still on the track – seems to be the least of Jose Ramon Carabante's problems right now.

The owner of the Spanish team had all of his assets frozen by a Madrid arbitration court, due to a payment dispute with Trinitario Casanova, from whom he bought the Grupo Hispania two years ago. According to the El Mundo newspaper, each of the two businessmen claimed the other owes him money, but in the end it was Casanova who won the battle in court.

Consequently, Carabante's properties are now preventatively frozen and will remain so until the Spanish billionaire will pay the 23 million euro debt he owes to Casanova. One good news for Carabante, however, is the fact that Hispania Racing F1 Team is not listed between the personal assets that are to be frozen.

I know what I owe him (Casanova), and what he owes me. The judge will decide,” Carabante was quoted as saying when hearing about the verdict, hinting that he is not at all worried and that his lawyers are already working on an appeal. Needless to say, the court's decision is not definitive. However, we don't know whether his properties will continue to be frozen until an appeal will have been solved.

In the meantime, Carabante's team is preparing for the next Formula One race on schedule, this weekend's British Grand Prix (Silverstone), their goal being, once again, to finish the race with both challengers.
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