News Details
Ecclestone appears in court
Bernie Ecclestone has denied allegations he was involved in a "conspiracy" as he appeared at the High Court on Wednesday over the controversial sale of a stake in the Formula One Group.Ecclestone is accused of entering into a "corrupt agreement" with German banker Gerhard Gribkowsky to facilitate the sale of the stake to a buyer of his preference.
Media company Constantin Medien is suing Ecclestone for $140m after claiming the stake was undervalued when it was sold by German bank BayernLB (BLB) to private equity firm CVC in 2006.
The German media firm had an agreement in place to receive 10 per cent if the stake was sold for more than $1.1bn but did not get anything as...
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11y ago from SkySports.com
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