‘Derrick Walker and Walker Racing used, to its sole benefit, the branding of Team Australia to develop funding for the Champ Car Atlantic programme. I received no benefit from this and I am currently owed $500,000 USD for cars and equipment bought by myself to establish this team the previous year. I have never called on or asked for this to be repaid.
‘There have been numerous anomalies in accounts over the period amounting to more than $500,000 USD. I have never called on these to be repaid. I will now call on the funds to be repaid immediately. I will also call for all accounts to be forensically investigated to ensure there has been no misappropriation of funds provided to the team.
‘After three years there is less than $300,000 USD owing in the accounts, save for Mr Walker himself, up to and prior to the date I advised him to cease operation. I have paid all budget over runs including $950,000 USD in 2006 which were incurred without my express agreement or prior knowledge.
‘At present there is $1.1 million USD outstanding in the GFW accounts, of which I have provided Derrick several undertakings to pay. These have been obviously unacceptable and now withdrawn. However, when taking into consideration Mr Walker is the largest creditor [his contribution to our partnership], it was agreed to work harmoniously to resolve these matters in an orderly and appropriate manner.
‘I would like to point out all drivers during our tenor were provided to the team by myself, CCWS and Kevin Kalkhoven. Contracts for Marcus Marshall, Alex Tagliani, Simon Pagenaud and Will Power were negotiated firstly by myself, Kevin Kalkhoven and CCWS and then offered to Derrick after the fact.
‘Not at any time did Derrick Walker and/or Walker Racing have any say or involvement in the driver arrangements, allocation of funding for those drivers or any other aspect of their agreements other than to operate them in accordance with the agreement between the JV parties and the funding provided.
