A Madrid arbitration court has moved to freeze the assets of HRT team owner Jose Ramon Carabante.
Due to a payment dispute with Trinitario Casanova, from whom Carabante bought the Grupo Hispania in 2008, the case was referred to Madrid’s Arbitration court.
The pair are each claiming the other owes them multiple millions of euros, but the finding of the court was that Carabante’s properties be preventatively frozen due to a 23 million euro debt, the El Mundo newspaper said.
However, it is believed that the HRT team is not one of the affected assets controlled by Carabante.
And he told the Diario La Verdad newspaper that the arbitration outcome does not worry him.
“I know what I owe him (Casanova), and what he owes me. The judge will decide,” said Carabante.
Court sources confirmed to the newspaper that the decision is not definitive.