The uncertainty makes it hard to revisit stalled efforts to

BayernLB to file new damages case against F1 boss Ecclestone

LONDON (Reuters) German bank buy canada goose jacket cheap BayernLB plans to bring a $400 million damages claim against Formula One boss canada goose deals Bernie canada goose coats on sale Ecclestone in London next month, the latest legal canada goose outlet store locations battle relating to the sale of the motor racing business in 2005 expeditionparkaoutlets .

Formula One Chief Executive Bernie Ecclestone leaves the High Canada Goose online Court Canada Goose Outlet in central London November 6, 2013. Canada Goose Jackets REUTERS/Toby Melville

German company Constantin Medien is already seeking more than $100 million from 83 year old canada goose Ecclestone in a separate case being heard in the High Court cheap Canada Goose in London.

The claims relate to allegations that Ecclestone undervalued Formula One when private equity fund canada goose clearance CVC became its largest shareholder eight years ago. Ecclestone is canada goose outlet toronto factory accused of favouring a sale to CVC to help ensure he remained chief executive of a business he had built up over three decades.

can confirm that BayernLB is working at canadian goose jacket high Canada Goose sale speed on civil charges against Mr Ecclestone and expects to file suit against him in the High canada goose clearance sale Court in London in January 2014, a spokesman for BayernLB said on Wednesday.

A person familiar with the matter said the state backed bank would be seeking up to $400 million in damages.

Ecclestone was not buy canada goose jacket immediately canada goose black friday sale available for comment but said he would fight the German bank in court when Canada Goose Parka it first raised the prospect of legal action in October last year.

The legal fallout from 2018 canada goose outlet the share sale is canada goose coats threatening Ecclestone long hold on the commercial reins Canada Goose Coats On Sale of the sport. The uncertainty makes it hard to revisit stalled efforts to launch an initial public offering on the Singapore stock market click over here .

CVC paid Canada Goose Online about $830 million for BayernLB 47 percent stake in Formula One. The business had fallen into the hands of a group of banks after the collapse of German media company and canada goose replica controlling shareholder Kirch.

A Munich court in 2012 jailed Gerhard Gribkowsky, former chief risk officer at BayernLB, for tax evasion and bribery for taking a $44 million payment from Ecclestone and his family trust after the sale. He said canada goose store the payment had nothing to do with the CVC deal.

Leave a comment

Your email address will not be published. Required fields are marked *