The 50 A1 Grand Prix cars attached by court order in Durban earlier this week would be able to leave the country on Friday after a settlement was reached with the insurance company.
Insurance brokers Aon South Africa had the vehicles attached earlier this week in connection with R36-million in outstanding premiums.
”The situation has been resolved; it’s fine now,” Aon South Africa spokesperson Cathy Findley said on Friday.
A statement issued later said: ”We have reached agreement on the contractual relationship between ourselves, and plans now continue in preparation for the remaining A1 events at Indonesia, Mexico, California and Shanghai.”
”’Our relationship remains sound,’ the two parties said today,” said the brief statement.
The Star reported that on Wednesday lawyers for Aon South Africa made an urgent application before Durban High Court Judge Herbert Msimang, claiming Aon was owed about R36-million in unpaid insurance premiums.
The application was made against eight foreign companies who own the cars. The judge heard argument and granted the order, which was served on A1’s Theo Watson.
The cars, which took part in the South African A1 Grand Prix at the weekend, were already loaded on palettes at the airport to be transported by cargo planes when they were attached.
However, the dispute, which posed a threat to next week’s A1 Grand Prix race in Indonesia, was settled out of court late on Thursday night.
Findley said she did not know the details of the settlement. — Sapa