A Bermuda-based company will be facing off against Lancashire County Cricket Club in British courts this week over the club’s plans to redevelop its famed Old Trafford cricket ground.Derwent Holdings, which owns a nearby retail park, has launched a legal challenge against Trafford Council’s plans to grant Lancashire and development partners Tesco planning permission for a major redevelopment of the ground, Britain’s Daily Telegraph reported.A final decision on whether the ground development can go ahead is expected by next Friday.Lancashire is expected to announce losses of more than £2 million ($3.2 million) for last year, partly through incurring hefty costs associated with their planning application, and fear that rejection of the planning application will spell the end of Old Trafford as a Test Match venue. “This could be the most important week in the club’s history,” chief executive Jim Cumbes said in a statement on the club’s website.“This will be a make or break decision, the stakes could not be higher. We are confident that the case presented by Trafford Council, the club and its partners is robust.“The club has spent £1.5 million on costs associated with planning, advisors and in particular, Derwent’s delaying tactics. There has also been a £2 million reduction in grants as a result of not being able to start the development programme as planned.“If we win, we can transform the ground and bid to host the 2013 Ashes. If we cannot bring the ground up to international standard, the North-west will lose Test cricket and the Ashes for good.“In addition, schools and young people locally will miss out on much-needed sports and community benefits.”