Skip to content

Report: Lawsuit against Ecclestone dismissed in N.Y. Supreme Court

Jan 21, 2014, 11:12 PM EST

F1 Grand Prix of China - Race Getty Images

A $650 million lawsuit against Formula One supremo Bernie Ecclestone has been dismissed in New York Supreme Court according to a report from Autoweek‘s Christian Sylt.

In November of 2012, American group Bluewaters Communications Holdings filed the suit, arguing that it should have been sold the 47 percent stake in F1 that wound up going to private equity firm CVC in 2006.

Ecclestone faces charges of bribery over a $44 million payment to German banker Gerhard Gribkowsky, but while he’s admitted to making a payment in separate legal proceedings, he’s said that he did it because Gribkowsky was threatening to make allegations regarding his tax affairs.

Bluewaters states that it was the highest bidder for the aforementioned stake, noting that it was ready to pay an additional 10 percent above any legitimate offer from a potential buyer.

But Sylt reports that a justice of the New York Supreme Court, Eileen Bransten, has ruled against them, emphasizing that the claims involved in the lawsuit took place in Europe and that CVC’s own offer for the stake stated that it was governed by English law and thus, all claims coming out of it would be dealt with in English courts.

Said Bransten, according to Sylt: “…This action is not about a lost business venture in New York, but rather on allegations that an English citizen bribed a German citizen to compel a German bank to sell its interest in a Jersey company to an English company rather than another Jersey company.”

To be clear, Bransten does not appear to be referencing New Jersey. Sylt writes that Bluewaters was based on the island of Jersey, off the coast of England, at the time it made its offer for the F1 stake.

Ecclestone may have dodged a bullet in the U.S., but the British billionaire needs to dodge a few more in the months ahead. He recently stepped down from the board of directors for F1′s parent company ahead of his German bribery trial in April (although he will continue to run day-to-day operations).

Additionally, German media firm Constantin Medien – a former stakeholder in F1 – sued him last fall in London for more than $100 million, alleging that Ecclestone’s sale to CVC undervalued the property and lost them money in the process.

Latest Posts
  1. After thrilling title finale, NASCAR withdrawal now setting in

    Nov 23, 2014, 2:30 PM EST

    Ford EcoBoost 400 Getty Images

    This weekend is the first without a NASCAR race since mid-July.

  2. Abu Dhabi GP Paddock Notebook – Sunday

    Nov 23, 2014, 2:00 PM EST

    Lewis Hamilton AP

    For the last time in 2014, we round up all of the action in the paddock as Lewis Hamilton became Formula 1 world champion for the second time.

  3. Force India rallies to double points score in Abu Dhabi

    Nov 23, 2014, 1:30 PM EST

    F1 Grand Prix of Abu Dhabi - Qualifying Getty Images

    It’s not enough to beat McLaren in the constructors’, but a great result nevertheless for Hulkenberg and Perez in Abu Dhabi.

  4. Lotus’ Twitter hilarity powers through a challenging Renault sendoff

    Nov 23, 2014, 1:15 PM EST

    MaldonadoAD Getty Images

    Lotus laughs rather than cries after a fitting end to its challenging 2014 season.

  5. Button top-five caps off end of what could be several eras at McLaren

    Nov 23, 2014, 1:00 PM EST

    ButtonSignoff Getty Images

    We know McLaren and Mercedes are done. But what of Jenson Button and/or Kevin Magnussen?

  6. Ricciardo stars once more, from pit lane to fourth in Abu Dhabi

    Nov 23, 2014, 12:45 PM EST

    RicciardoAD Getty Images

    Quite a drive from Daniel Ricciardo, primarily aided by start on primes.

  7. Vettel thanks Red Bull for “incredible journey”

    Nov 23, 2014, 12:15 PM EST

    F1 Grand Prix of Abu Dhabi Getty Images

    After winning four world titles with Red Bull, Vettel is bound for Ferrari in 2015.

  8. Prince Harry and David Cameron congratulate Hamilton on F1 title

    Nov 23, 2014, 11:45 AM EST

    Mideast Emirates F1 GP Auto Racing AP

    On a great day for British motorsport, Prince Harry and British Prime Minister David Cameron send their congratulations to Hamilton.

  9. Alonso rates time with Ferrari as 9/10, finishes P9 in final race for the Scuderia

    Nov 23, 2014, 11:30 AM EST

    Mideast Emirates F1 GP Auto Racing AP

    Alonso is set to join McLaren in 2015 after five years with Ferrari.

  10. Rosberg gracious in title defeat, says Hamilton deserved championship

    Nov 23, 2014, 11:15 AM EST

    Mideast Emirates F1 GP Auto Racing AP

    An engine failure cost Rosberg the chance to emulate his father and become F1 world champion.

  11. Williams double podium caps phenomenal comeback season

    Nov 23, 2014, 10:56 AM EST

    ADpodium Getty Images

    Second and third for Massa and Bottas caps an incredible 2014 season for Williams.

  12. Hamilton calls second title victory “the greatest day of my life”

    Nov 23, 2014, 10:13 AM EST

    AUTO-PRIX-F1-ABU-DHABI-PODIUM Getty Images

    British driver wins his second F1 championship in Abu Dhabi as title rival Nico Rosberg fails to finish in the points.

  13. Hamilton clinches second F1 world title by winning Abu Dhabi GP

    Nov 23, 2014, 9:45 AM EST

    F1 Grand Prix of Abu Dhabi Getty Images

    An engine failure for Nico Rosberg leaves Hamilton free to win the race under the lights in Abu Dhabi and clinch his second world title.

  14. GP2: Coletti wins final race of the season in Abu Dhabi

    Nov 23, 2014, 8:30 AM EST

    © GP2 Media Service © GP2 Media Service

    F1′s feeder series comes to a close in Abu Dhabi on Sunday.

  15. GP3: Stoneman and Niederhauser close out season with wins

    Nov 23, 2014, 7:45 AM EST

    © GP3 Media © GP3 Media

    The third tier single seater series comes to a close in Abu Dhabi, with Alex Lynn winning the championship.

  16. Starting grid for the 2014 Abu Dhabi Grand Prix

    Nov 23, 2014, 7:15 AM EST

    F1 Grand Prix of Abu Dhabi Getty Images

    Nico Rosberg will lead the grid away for the 11th and final time in 2014 later today.

  17. WATCH LIVE: Abu Dhabi GP Race Day live on NBCSN from 7a ET

    Nov 23, 2014, 6:45 AM EST

    Nico Rosberg AP

    Nico Rosberg and Lewi Hamilton’s date with destiny awaits in Abu Dhabi today.

  18. Alonso hits back at questions about his motivation

    Nov 23, 2014, 6:30 AM EST

    F1 Grand Prix of Japan - Practice Getty Images

    Spaniard responds to comments made by Ferrari team principal Marco Mattiacci earlier this week.

  19. The Final Showdown: Hamilton and Rosberg prepare for one final battle in Abu Dhabi

    Nov 23, 2014, 6:00 AM EST

    Nico Rosberg, Lewis Hamilton AP

    The 2014 Formula 1 season has been a sensational one, but the championship will finally be decided today in Abu Dhabi. Will it be Lewis or Nico?

  20. Vettel and Ricciardo to start Abu Dhabi GP from pit lane

    Nov 23, 2014, 5:48 AM EST

    Mideast Emirates F1 GP Auto Racing AP

    Changes made to the cars overnight warrant another penalty for Red Bull.

Video from NASCAR America

Most unexpected event of 2014?
Top 10 NASCAR Driver Searches
  1. J. Gordon (1879)
  2. J. Johnson (1806)
  3. D. Hamlin (1682)
  4. J. Logano (1676)
  5. T. Stewart (1626)
  1. K. Kahne (1508)
  2. J. McMurray (1456)
  3. R. Newman (1428)
  4. K. Harvick (1382)
  5. K. Larson (1184)