F1-Fansite.com

adrotate banner=”4″]

F1 News

Ecclestone to be sued by bank for $400m

Bernie Ecclestone and Fernando Alonso
Bernie Ecclestone and Fernando Alonso
Bernie Ecclestone & Felipe Massa

Bernie Ecclestone supporting Felipe Massa

Another front has opened up amid Bernie Ecclestone's legal woes, as it emerges the state Munich bank BayernLB plans to sue the eF1 chief executive.

The 83-year-old Briton is already the subject of criminal proceedings in Germany, while the German media company Constantin pursues him for over $100 million in London's high court.

The cases all relate to Ecclestone's alleged paying of a bribe to the now-jailed banker Gerhard Gribkowsky, as the sport's commercial rights were sold to CVC some years ago.

BayernLB, having originally held the allegedly undersold shares, is now the latest to file a lawsuit, with the bank confirming to DPA news agency its intention to go to the London high court, probably in January.

The Reuters news agency said BayernLB will seek a staggering $400 million in damages.

DPA quoted a bank spokesperson as saying: "It is true that BayernLB is working at high speed on a lawsuit against Mr Ecclestone.

"We expected to submit it to the London high court in January."

However, Ecclestone's hopes appear to have been boosted by the judge in the Constantin case, according to the leading F1 business journalist Christian Sylt.

In the Guardian newspaper, he quoted Mr Justice Newey as saying: "I have to say I find the idea of a bribe being paid to get rid of the banks more plausible than the idea of a bribe being paid to undertake an arrangement under which shares were sold at an undervalue."

Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.

Please share this article & subscribe to our FREE weekly
PinIt
  submit to reddit  

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest posts in this F1 category:

See older posts in our F1 Archive »

Stay Updated by F1-Fansite!

2017 F1 Merchandise

2017 F1 MerchandiseGet your 2017 F1 Merchandise here.

Early Booking Discounts on F1 Tickets

Buy F1 Tickets cheaper at F1-Fansite.com 2017 Formula 1 Season Early Booking Discounts are:
F1 RaceDiscount
Book entrance Belgian F1 GP Belgium '1775% Sold OutBook Now
Book entrance Italian F1 GP Italy '1730% Sold OutBook Now
Book entrance Belgian F1 GP Singapore '17AvailableBook Now
Book entrance Malaysian F1 GP Malaysia '17AvailableBook Now
Book Japanese F1 GP Japan '17AvailableBook Now
Book entrance USA F1 GP USA '1710% DiscountBook Now
Book entrance Mexican F1 GP Mexico '17AvailableBook Now
Book entrance Brazil F1 GP Brazil '17AvailableBook Now
Book entrance Italian F1 GP Abu Dhabi '1730% DiscountBook Now
Book entrance Australia F1 GP Australia '18AvailableBook Now
Book entrance Spain F1 GP Spain '1820% DiscountBook Now
Book entrance Monaco F1 GP Monaco '18AvailableBook Now
Book entrance Monaco F1 GP Germany '1829% DiscountBook Now

Polls

Do you want the Halo?

View Results

Loading ... Loading ...
F1 Polls

We make use of cookies to personalise ads, to make use of social media & to analyse our website traffic. We also share this information with our partners for use of social media, ads & analyses. These partners can combine our info with other info that you already shared with them or that they have gathered of you by using their services. By continuing to use this website, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close