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Ecclestone made 'corrupt agreement'
F1 boss Bernie Ecclestone was accused of making a 'corrupt agreement', at the High Court in London on Tuesday. The case has been filed by Constantin Medien, which is seeking damages of at least £90 million, arguing that BayernLB's 47 percent stake was undervalued when it was sold to CVC back in 2006. Philip Marshall QC, representing Constantin Medien, said 'corrupt payments' – totalling around £27m - had been made to German banker Gerhard Gribkowsky during the sale, a sale that took place 'without the normal and proper process' and which was done to ensure Ecclestone kept his role as chief executive. Ecclestone's representative, Robert Miles QC, meanwhile countered by saying the 'claim...
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11y ago from GPUpdate.net
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