Motor racing boss Max Mosley is optimistic that a resolution will be found to avert the threat of Formula One teams boycotting the British Grand Prix and other European races.
But Mosley, president of the governing body, FIA, has insisted the new European Arrest Warrant system is a "menace" that does put at risk races in the sport's traditional heartland.
F1 teams fear EAWs could be used to extradite key personnel if there is a fatality on the track and would consider boycotting races in Europe unless they get a legally enforceable undertaking that exempts them from the system.
Mosley, who has written to the governing body of each European country which holds a grand prix, said that chances of a resolution are "quite likely".
But he added: "The difficulty is that at the moment there are no bail provisions under the European Arrest Warrant. It's all been rushed through on the basis of things like terrorism.
"So it's a real menace, not only to the team principals but also to the mechanics and all the technicians and engineers - everyone concerned with the team.
"Under the European Arrest Warrant, the local magistrate could simply order the arrest of whoever was concerned and have them carted off to the relevant country and lock them up until there was a trial."
Mosley added that unless teams received "binding assurances that these procedures will not be used against them in the event of an accident, they simply won't race - they won't take the risk."
Britain, Belgium and Spain have already adopted the new system, which was introduced on January 1st, putting races in those countries at risk - while it is due to come into force across the European Union by the end of March.
Teams are determined to avoid a repeat of the legal process that followed the death of Ayrton Senna, which is still ongoing almost 10 years after the former world champion's accident at the 1994 San Marino Grand Prix in Italy.