Engine supplier sues defunct team
Wednesday, Jul. 27, 2011
A dispute over engines for two entries in NASCARs Truck series has moved to federal court.
In a suit filed in U.S. District Court, engine supplier Triad Racing Technologies alleges Vision Airlines Racing defaulted on contracts originally valued at more than $1.4 million. The contracts, for leasing and service of race engines, outlined installment payments to begin in January.
The Vision team, formed with many of the assets purchased from Billy Ballew Motorsports in late 2010, paid $392,000, Triads suit alleges. In the spring, the Toyota team cut back, then laid off personnel and ceased operations. Payments have since stopped altogether, the engine supplier claims.
Triad asks the court to award it more than $700,000, plus interest, attorney fees and court costs.