Renault tells court Lotus buyout complete

Lotus now officially owned by Renault

(GMM) Renault now "have the keys" to the Enstone based team known in 2015 as Lotus.

That is what a lawyer for the French carmaker on Monday told an insolvency judge in London, signaling an end to Lotus' financial struggles and the completion of the Renault buyout deal.

It is understood the judge was satisfied that a share purchase agreement between Lotus and Renault is now in place, with the new owners now pledging to pay all creditors by the last day of the year.

The BBC quoted the lawyer as telling the judge: "We (Renault) have the keys, so to speak."