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Ecclestone wins Formula 1 damages case
– Bernie Ecclestone has prevailed in the damages case brought on by German media group Constantin Medien, which had been suing the Formula 1 supremo and other defendants for up to £85 million ($140 million) after claiming that it lost out during the sale of the sport back in 2006. Ecclestone, 83, was accused of entering into a corrupt agreement with German banker Gerhard Gribkowsky, who is now serving an eight and a half year jail sentence, to direct the sale in the favour of a preferred buyer. Lawyers for Constantin Medien said the eventual sale of German bank Bayern LB's shares to private equity firm CVC Capital Partners was undervalued, and that is was completed "without the...
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12y ago from GPUpdate.net
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