TEGA Tribunal upholds liquidated damages case
5/9/2004 23:13 (Press Release) -
The Touring Car Entrants Group (TEGA) Tribunal has unanimously determined that JFA Pty Ltd was liable for liquidated damages of $300,000 for failing to attend and participate in the 2003 V8 Supercar Championship Series round at Queensland Raceway.
The TEGA Tribunal found that JFA Pty Ltd, owned by John and Alyson Faulkner and the then holder of two Level One V8 Supercar Licences, was in breach of its obligation to contest each round of the V8 Supercar Championship Series.
TEGA regulations stipulate that Level One licence holders must contest every round of the V8 Supercar Championship Series or be liable for liquidated damages of $150,000 per licence.
The evidentiary hearing consisted of two full days of witness evidence and statement gathering on behalf of both parties. JFA Pty Ltd argued against the liquidated damages on nine counts, all of which were unanimously dismissed by the tribunal. The claim for liquidated damages was then applied and enforced.
TEGA Chairman Kelvin O’Reilly said the decision was in line with and supported TEGA Regulations.
“TEGA is delighted with the result,” Mr O’Reilly said. “The system allows the championship to operate in a thorough and professional manner.”
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