Bernie Ecclestone has avoided a second trial, agreeing with the German Bank BayernLB to end the litigation on the sale of shares in F1 to a private group CVC.
At the end of November 2016, Bernie filed a lawsuit against BayernLB. The Bank in turn filed a counter lawsuit against Ecclestone. Bernie explained his claim that he is not liable to the Bank and BayernLB intends to seek damages in connection with the sale of its shares in F1.
The trial of Ecclestone’s and the BayernLB’s Bernie filed a lawsuit against the Bank
Thus, the case was to be heard in June.
However, last week the high court in London ruled that Ecclestone was able to negotiate confidentially with BayernLB for the completion of the litigation in mid-December 2016.
At the same time, BayernLB has continued the trial against German media group Constantin Medien, who was involved in the sale of shares in F1. Materials less high profile case will be heard in mid-June.
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