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Ecclestone gets $30m boost in High Court trial
Formula One boss Bernie Ecclestone will be giving evidence at London's High Court today in the trial brought against him by German media firm Constantin Medien and it looks like he has good reason to be smug about it. Writing in the Independent, Pitpass' business editor Christian Sylt has revealed that the claim against him has been reduced by $30m to $140.4m which is not a bad way to start.Constantin claims that a 47.2% stake in F1 was undervalued when it was sold by German bank BayernLB (BLB) to current owner, the private equity firm CVC, in 2006.The lawsuit alleges that Ecclestone and his Bambino family trust paid a $44m bribe to BLB executive Gerhard Gribkowsky to steer the sale to CVC...
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11y ago from Pitpass.com
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