independent

Sunday 20 April 2014

Judge dismisses €102m claim against F1 boss

F1 boss Bernie Ecclestone
F1 boss Bernie Ecclestone

A High Court judge has dismissed a $140m (€102m) damages claim against Bernie Ecclestone and three other defendants from German media firm Constantin Medien.

However, Mr Justice Newey said in his judgment that he found it "impossible" to regard Formula One's chief executive "a reliable or truthful witness" and ruled that payments Ecclestone made to a German banker Gerhard Gribkowksy did constitute a bribe.

Ecclestone is awaiting a criminal trial in Germany, which begins in April, over allegations that he bribed a public official. Gribkowksy, who has already been jailed, worked for state-owned bank BayernLB.

Ecclestone and three other parties were accused in the High Court in London of making a "corrupt bargain" with Gribkowsky with the intention of undervaluing BayernLB's stake in the sport when it was sold to present owners CVC Capital Partners eight years ago.

Ecclestone did not deny paying Gribkowsky money but claimed that he as "shaken down" by the banker who was threatening to cause trouble for him with the UK tax authorities. (© Daily Telegraph London)

Irish Independent

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Independent.ie on Twitter

More

Most Read

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News