Sergio Perez says he was "heartbroken" to have to enact legal proceedings towards Force India, but stressed it was necessary in order to save the team.
Force India has been battling financial concerns in recent months that have been exacerbated by the personal issues encountered by co-owner Vijay Mallya.
Force India entered administration on Friday, and it was revealed that Perez and his backers were one party of creditors seeking remuneration for unpaid bills.
Speaking on Saturday at the Hungaroring, Perez clarified the situation and explained why he had carried out such an action, asserting that the team would have closed down without his input.
“There were other people, it was not only me,” he said.
“The reason behind that was not to screw up the team. It was to save the team. It's much more complicated.
“I don't really understand all the terms with lawyers and so on, but certainly, the bottom line of this is we either do this or the team will have gone bust. It's what I got from the lawyers and from members of the team.
“There are 400 people out there at risk, their jobs, families, team members. You cannot imagine. We are all aware of the situation that my friend Vijay is going through.
“I love Vijay, my heart is broken because I know this is not ideal in the short term for him. But the big picture is really different.
“I have gone through a very difficult moment emotionally more than mentally. For me, it’s been hard the position I’ve been put in. So yeah, I have to say, I’m not going through a good time at the moment.”
Perez stressed further that his decision was not motivated by money.
“I’m sure everyone appreciates what I have done and if they don’t appreciate it right now because a couple of members of the team don’t know the full picture, if they don’t appreciate it now, they will appreciate it in a week or so, because they will find out what the reason is behind it,” he said.
“I’ve seen some quotes in the media, saying I’ve done it for the sake of getting my money. That had nothing to do with it.
“It’s mainly to protect the team, which is quite easy in the media, to create those stories. I have been put in this position.
“It’s not something I’m enjoying and liking it but in the end, I have to make the decision to protect the 400 people who are working him.”
