Bank seeks $400 million payment from Ecclestone
25 October, 2012
The bank claims that is the amount it lost due to its sale of F1 shares some years ago to the sport’s current owner CVC, with the transaction having been subsequently called into question over the Gerhard Gribkowsky corruption scandal.
Suddeutsche said that BayernLB’s lawyers have sent a letter, detailing the extraordinary damages, to Ecclestone.
BayernLB claims that, with Gribkowsky allegedly bribed millions by Ecclestone and now providing information to authorities, the now-jailed banker vastly undervalued its F1 shares.
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