Attempt to Prevent McLaren Management Changes Defeated in London High Court
November 22, 2016
Cleary Gottlieb successfully represented TAG Group Limited, a shareholder in McLaren Technology Group Limited, the parent company of the group that owns the McLaren Formula 1 team, in defeating an attempt by CEO Ron Dennis to prevent management changes at McLaren.
Mr. Dennis made an urgent application to the High Court in London on November 9, 2016, to seek an injunction that would have prevented McLaren’s board from passing resolutions to put him on gardening leave and appoint an interim executive committee.
Cleary’s client, TAG, and Bahrain Mumtalakat Holding Company, who together own 75 percent of McLaren, successfully argued that the High Court should not interfere with the board’s decision-making, with judgment being delivered during after-court hours on November 11.