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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.
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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)
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Date
Grand Prix
Circuit
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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
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20 - May 23
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2 - Jul 4
Austria
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United Kingdom
Silverstone
30 - Aug 1
Hungary
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27 - Aug 29
Belgium
Spa-Francorchamps
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Netherlands
Circuit Zandvoort
10 - Sep 12
Italy
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8 - Oct 10
Japan
Circuit Suzuka
8 - Oct 10
Turkey
Istanbul Park
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United States of America
Circuit of the Americas
5 - Nov 7
Mexico
Autodromo Hermanos Rodriguez
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Brazil
Interlagos
19 - Nov 21
Qatar
Losail International Circuit
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Jeddah Street Circuit
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Yas Marina Circuit
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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
8 - Oct 10
Japan Circuit Suzuka
8 - Oct 10
Turkey Istanbul Park
22 - Oct 24
United States of America Circuit of the Americas
5 - Nov 7
Mexico Autodromo Hermanos Rodriguez
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Brazil Interlagos
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