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Ecclestone sued for 345 million by German bank
German state bank BayernLB is suing Bernie Ecclestone and his family holding Bambino for around €345 million ($422 million) in relation to the sale of its stake in Formula One. News agency DPA says BayernLB announced the move in Munich on Friday. The bank rejected a €25-million ($31 million) settlement offer from Ecclestone in August, after a Munich court dropped a bribery case against the 83-year-old Englishman. BayernLB claims the purchase contract was terminated in 2005 under conditions 'that were set by Mr. Ecclestone and were detrimental to the bank.' The charges in the now-closed bribery trial cantered on a $44-million payment by Ecclestone to former BayernLB executive...
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10y ago from F1Pulse.com
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