COTA seeks arbitration in Hellmund lawsuit

In March, racing promoter Tavo Hellmund filed a lawsuit against investors Bobby Epstein and Red McCombs and other individuals and companies linked to Circuit of the Americas, the $300 million racetrack in southeastern Travis County scheduled to host a Formula One Grand Prix in November.

The courts are now deciding what — if any — portion of that dispute will be made public.

In addition to damages, Hellmund is seeking to examine the company’s books and records.

In late March, at the request of the defendants, certain court records were temporarily sealed pending a public hearing on that matter, which is scheduled for 2 p.m. May 8 at the state district court in Travis County.

The defendants are seeking to seal the company agreement and other documents because they could contain trade secrets and/or be subject to confidentiality agreements.

They are also seeking to have the dispute resolved through arbitration rather than the courts. Late last week, in a sealed hearing, the court entered a temporary injunction against arbitration.

According to Eric Wetzel, a spokesman for Hellmund’s legal team, “Bobby Epstein wants this matter sent to arbitration, which is a closed-to-the-public, confidential resolution process. Mr. Hellmund wants this case tried to a Travis County jury. So far, we are winning that battle." Circuit of the Americas representatives Monday declined to comment on a pending legal matter. The Statesman