British Racing Motors (generally known as BRM) was a BritishFormula 1motor racing team. Founded in 1945, it raced from 1950 to 1977, competing in 197 Grand Prix and winning 17. In 1962, BRM won the Constructors Title with a British driver, Graham Hill also becoming World Champion. BRM also came second in the Constructor Title in 1963, 1964, 1965 and 1971.
BRM manufactured chassis and engines in many occasions. Their most notable development was a 1.5 L V16 racing engine. BRM sold engine to other constructors the most notables being McLaren, Matra and Lotus.
BRM asserted that the second post-discharge agreement was valid, that the Debtors breached their obligations under the second post-discharge agreement, and that Debtors refused a demand for turnover of the jewelry.
BRM should also have understood that as the bankruptcy court framed the issue for trial, mistake was a potential defense and rescission a potential remedy.
BRM next argues the Debtors' claim, even when limited to a request for a declaration that the second post-discharge agreement was invalid, constituted an impermissible private right of action to remedy BRM' s alleged violation of the discharge injunction.
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