Ant Anstead and Jenson Button’s Radford Motors applied

A recent lawsuit claims two of Redford’s founders have been using company funds for personal expenses

Niche car manufacturer founded by famous mechanic Ant Anstead wheeler dealer Jenson Button of Radford Motors fame and 2009 Formula 1 world champion has encountered some “difficulties” and filed for Chapter 11 bankruptcy in a Delaware court . Founded as an ambitious boutique firm, Redford’s journey from nostalgia revival to legal entanglement is starting to look like a textbook case of high expectations colliding with financial reality.

The company, launched in 2020, launched the redesigned Lotus Type 62. But behind the glamorous public relations, Redford has been dealing with a series of legal problems. In March, business partner Pastor Velasco filed a lawsuit against Anstead and co-founder Daniel Bednarski, claiming he was owed $2 million. Then, on July 24, Radford co-owner Roger N. Behlr Jr. filed another lawsuit accusing Anstead and Bednarski of mismanaging the company’s funds.

READ: Redford turns his Pikes Peak winner into a million-dollar limited-edition track car

Bell’s complaints paint a less than flattering picture. In January, Anstead and Bednarski reportedly made a $100,000 sale, but $54,635.52 of that amount was immediately diverted to pay the supplier for work unrelated to the customer’s Type 62. In addition, Bednarski allegedly took $20,000 from the deposit and transferred it to himself. It also claims the pair used other company funds for personal expenses, including car insurance.

Redford’s Chapter 11 bankruptcy protection, which is a debt restructuring, doesn’t mean the company will go the way of the Dodo anytime soon. In fact, the small company remains confident about its future.

“Radford Motors is undergoing a Chapter 11 business reorganization that will implement strategic changes to strengthen our foundation for the future. During this process, certain ownership transfers are expected to occur, which are important as we grow step.” people. “These changes are part of our wider strategy to clear the way for new investment and underscore our commitment to continued growth… We are excited about the path ahead and remain focused on continuing business as usual with renewed vigor and purpose Conduct business.”

Bednarski, who served as a life coach at Anstead before becoming Radford’s CFO, emphasized that the company remains “committed to its unparalleled craftsmanship and tradition of excellence.”