An application to wind up Group Lotus plc has been dismissed by the High Court today.

As reported by Autocar this morning, the name of Group Lotus – which comprises Lotus Cars, Lotus Motorsport and Lotus Engineering – appeared on the Companies Court Winding Up list to be heard at the High Court.

Such cases are often the result of a creditor or group of creditors seeking to have a company's assets liquidated as a result of failure to pay debts.

However, according to a statement issued by Group Lotus this afternoon, earlier this year the company was in a contractual dispute which was subsequently resolved amicably.

The High Court process means that the matter still has to be completed before a judge before proceedings can be formally disposed of. Today the claim was dismissed with no order as to costs.