He had ruled out a move to the new Lotus F1 team for sentimental reasons alone.
Renault no longer has its own Formula 1 team, though its Renault Sport F1 division supplies engines to Caterham as well as to the Lotus F1 team, which is run by Group Lotus.
Car company Group Lotus and F1's Team Lotus are at loggerheads over the name.
The new Malaysian-backed team brought the Lotus name back into F1 for the first time since 1994, when Team Lotus collapsed because of financial reasons.
He has since - as exclusively revealed by BBC Sport in September - bought the rights to the historic name of the outfit in F1 - Team Lotus.
Elsewhere, Team Lotus officially changed their name to Caterham F1 on Wednesday, with team principal Tony Fernandes eyeing improvements in the 2012 Formula One season.
The row dates back to 2009, when Fernandes was granted by Group Lotus the rights to use the Lotus name in F1 for a new team he was setting up to race in the 2010 season.
Lotus Racing team principal Tony Fernandes agreed a deal to use the Lotus name in F1 this year with the owner of Lotus Cars, the Proton car company.
The new Lotus team is already being treated by F1 authorities as a continuation of the former one, which was set up by the legendary Colin Chapman, earning prize and appearance money on the basis of Team Lotus's historic results.
But it is widely believed in F1 that the team will not be called Lotus in 2011 after a naming rights dispute.
Hunt - brother of former F1 world champion James Hunt - acquired the Team Lotus name following the collapse of the team in 1994 with financial problems.
Fernandes bought the rights to the Team Lotus name in an attempt to protect his investment in F1 when he realised he had fallen out of favour at Group Lotus.
Renault is now officially in F1 only as an engine supplier - to Red Bull, Renault and Team Lotus - and now, through Infiniti, as a sponsor of Red Bull.
Monday's hearing surrounded Group Lotus's decision to terminate a five-year licensing deal it had with Team Lotus boss Tony Fernandes's 1Malaysia group to use the Lotus brand in F1.
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