Friday, July 25, 2014   

(Motor racing) Ecclestone wins damages for corrupt deal
(02-20 19:05)

Formula 1 boss Bernie Ecclestone has won a multimillion-dollar case at London's High Court relating to the sale of F1 in 2005 but the judge nevertheless said it was a corrupt deal.
A former F1 shareholder, German media company Constantin Medien, had sued Ecclestone and other defendants for up to US$144 million, claiming F1 was undervalued at the time of the sale to investment group CVC Capital Partners.
Ecclestone was accused of entering into a “corrupt agreement'' with a banker to facilitate the sale of the Formula 1 Group to a buyer chosen by him.
Britain's High Court ruled today that the deal was corrupt, but said that Constantin Medien did not lose out as a result.
Ecclestone is also facing trial in Germany after being accused of bribery.—AP

   
Other Sports breaking news:
(Football) Coach quits World Cup quarter-finalists Costa Rica (1 hr 23 mins ago)
(Football) Lampard joins New York City (1 hr 40 mins ago)
Olympic Champion Mo Farah out of Commonwealth Games (07-24 17:30)
FIFA head meets Emir of Qatar for labor rights talk in 2022 World Cup (07-24 17:09)
(Football) United dumps Galaxy in Van Gaal's debut (07-24 15:03)
(Football) Ronaldinho on Boca Juniors radar (07-24 12:17)
(Football) Borini injury fear for Liverpool in Roma loss (07-24 11:35)
(NBA) Closing arguments set for Sterling trust case (07-24 11:33)
(Cycling) Shin injury forces Contador out of Spanish Vuelta (07-23 19:17)
(NBA) James apologizes to neighbors (07-23 19:16)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.