user icon
user icon
icon
link-icon
<< Return to the news list
BayernLB prepares lawsuit against Ecclestone for $400m

BayernLB prepares lawsuit against Ecclestone for $400m

  • Published on 12 Dec 2013 08:56
  • comments 0
  • By: Rob Veenstra
Another front has opened up amid Bernie Ecclestone's legal woes, as it emerges the state Munich bank BayernLB plans to sue the embattled F1 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." (GMM)
F1 News
<< Previous article Next article >>

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Pos
Team
Points
1
Red Bull Racing
174
2
Mercedes
148
3
Ferrari
94
4
McLaren
92
5
Alpha Tauri
39
6
Aston Martin
37
7
Alpine F1
25
8
Alfa Romeo Racing
2
Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28
Bahrain
Bahrain International Circuit
16 - Apr 18
Italy
Autodromo Enzo e Dino Ferrari
30 - May 2
Portugal
Autódromo Internacional do Algarve
7 - May 9
Spain
Circuit de Catalunya
20 - May 23
Monaco
Monte Carlo
4 - Jun 6
Azerbaijan
Baku City Circuit
18 - Jun 20
France
Paul Ricard
25 - Jun 27
Austria
Red Bull Ring
2 - Jul 4
Austria
Red Bull Ring
16 - Jul 18
United Kingdom
Silverstone
30 - Aug 1
Hungary
Hungaroring
27 - Aug 29
Belgium
Spa-Francorchamps
3 - Sep 5
Netherlands
Circuit Zandvoort
10 - Sep 12
Italy
Monza
24 - Sep 26
Russian
Sochi Autodrom
1 - Oct 3
Singapore
Marina Bay Street Circuit
8 - Oct 10
Japan
Circuit Suzuka
22 - Oct 24
United States of America
Circuit of the Americas
29 - Oct 31
Mexico
Autodromo Hermanos Rodriguez
5 - Nov 7
Brazil
Interlagos
19 - Nov 21
Australia
Albert Park
3 - Dec 5
Saudi Arabia
Jeddah Street Circuit
10 - Dec 12
United Arab Emirates
Yas Marina Circuit
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
-
Bahrain Bahrain International Circuit
26 - Mar 28
Bahrain Bahrain International Circuit
16 - Apr 18
Italy Autodromo Enzo e Dino Ferrari
30 - May 2
Portugal Autódromo Internacional do Algarve
7 - May 9
Spain Circuit de Catalunya
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
Belgium Spa-Francorchamps
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
1 - Oct 3
Singapore Marina Bay Street Circuit
8 - Oct 10
Japan Circuit Suzuka
22 - Oct 24
United States of America Circuit of the Americas
29 - Oct 31
Mexico Autodromo Hermanos Rodriguez
5 - Nov 7
Brazil Interlagos
19 - Nov 21
Australia Albert Park
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar