Hispania Racing, the first Spanish team to race in Formula One, made its debut in the 2010 season with no pre-season testing and two under-developed cars and has been dogged with speculation that it is struggling for money.

"These fees have been outstanding for more than a year and despite frequent reminders, Hispania Racing have failed to pay. They have given us no reason for non-payment," said John Everett of DLA Piper. "We are forced to the conclusion that they are unable to pay and hence are commencing such proceedings."

Hispania team boss Colin Kolles said last week the team's financial situation is "improving" as it seeks to secure its long-term future in Formula One.