May 27 (GMM) Team Lotus has won the right to keep using the iconic name and logo after the High Court announced a verdict in the F1 naming dispute on Friday.

Both Group Lotus and Tony Fernandes' Malaysian team claimed victory after the court battle, but it was the former outfit announcing it will appeal.

"No one (else) can use the chassis name," exclaimed Fernandes on Twitter, admitting he is "over the moon".

Renault sponsor and Proton-owned carmaker Group Lotus, however, can also continue to use the Lotus name in F1 and its black and gold livery, while the judge awarded damages after Fernandes' team breached its naming license last year.

"We are of course disappointed (about that but) my fellow shareholders and I are firm believers that when one door closes another door opens," said Fernandes.

In essence, the verdict means Team Lotus can keep its current name.

Group Lotus said it is "concerned that this aspect of the judgment will cause confusion in the eyes of spectators and the wider public".

"(We) are confident of success on appeal," it added.

Fernandes meanwhile said Team Lotus will push ahead with its new association with his new property, the specialty British sports car maker Caterham, under the 'Caterman Team Lotus umbrella".

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