Car61
Administrator
Court documents confirm that the LDI [Dumbrell] and Sanpoint [Fiore] RECs were sold by V8 Supercars Holdings to Australian Motor Racing Partners Pty Ltd, a related company of V8 Supercars and the second plaintiff in the case, for a nominal value of $20,000 each.
LDI had purchased its REC for $1.5 million in November, 2012, while Sanpoint paid $1.39 million for its license three years earlier.
Hardly an 'Arms Length' transaction... [tsk]
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