Lawrence Stroll Called His Partner Bankrupt To Avoid Giving $190 Million In Damages

Lawrence Stroll has come out as a devious personality ever since his takeover of the Aston Martin Lagonda.

The chaos surrounding Aston Martin’s ever-declining share prices and it’s fight with a partner company over their expansive project called the Valkyrie has brought the company nothing but suspicious eyes.

The story of Aston Martin’s Valkyrie project has been in the news for quite some time and that is because the company marketed the project as one of a kind and caught the attention.

The project was so hyped that even Red Bull F1 drivers Max Verstappen and Alex Albon took the revolutionary hypercar out on the Silverstone track.

But the whole project soon fell into a massive spiral that Red Bull pulled itself out of the project.

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How Lawrence Stroll tried to declare its partner company bankrupt?

Aston Martin joined hands with Nebula Project to manufacture the one-of-a-kind Valkyrie. At the time they shook hands on the contract, Nebula had agreed to underwrite the entire development cost of up to $100 Million.

All they wanted in return was a 4% royalty on all future sales of the mid-engined models of car. It was said that the deal was worth $350 Million.

But when Stroll pulled his hands from the project the legal claim for damages and the compensation for the cancellation of the agreement came down to $190 Million.

Amid all the court cases between Aston Martin and Nebula, Business F1 reported that Stroll secretly made a pre-emptive challenge in the court to have Nebula declared bankrupt. It is obvious that it was done in order to escape from paying the $190 Million to Nebula.

However, the sitting judge dismissed the claims. No one is sure though on what basis Stroll tried to declare Nebula insolvent as the company’s balance sheet was well within the Swiss solvency rules.

Where did it all begin?

The previous chairman of Aston Martin, Andy Palmer had signed a deal with Nebula where the latter company was supposed to be paid 4% in royalty for the sale of the hypercar.

After Stroll took over the chairmanship of Aston Martin, to prevent its share prices from slumping even more, he went on a cost-cutting spree. In doing so, he issued a press release stating that it was no longer liable for the royalty payment and decided to end the contract unilaterally.

Hence, resulting in massive chaos about the manufacturing of the hypercar, the refund to the customers who had made an advance booking and the time of the release of the car.

Ever since then, Stroll as explained by Business F1 has been trying to wipe off Nebula “from the face of the earth.”

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