Ecclestone legal troubles

Daily #F1 News and Comment: Friday 7th June 2013

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This page will be updated throughout the day – 13:14 Brawn and Whiting the scapegoats? On Wednesday evening the FIA confirmed Ferrari did not break the rules however Mercedes’ testing “may constitute a breach of the applicable FIA rules” and referred the latter to the International Tribunal. It appears there is more to this than originally … Read more

Daily F1 News and Comment: Friday 17th May 2013

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This page will be updated throughout the day The return of the Horse Whisperer This mysterious  character has spoken out. From deep inside the bowels of Maranello Ferrari’s  Grillo Ramapante is not happy. This is the stated raison d’être of the Horse Whisperer, “Travel the world, look, listen, learn…every now and then jump up and … Read more

Wolff wishes to clear the air, Big Foot or The Hulk, Pirelli reveals tyres for 1st 4 races, Ecclestone and the ‘appearing’ evidence

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Toto Wolff sets matters straight

In an interview for Formula1.com Toto Wolff talks about expectations at Mercedes.

“As they (Mercedes) know I have put my neck on the line they know that I have no room for failure. Not only have I taken a personal risk by leaving Williams – where I have enjoyed working – but there is also a financial and economic side to it. There is a huge amount of trust on both sides and I am very happy having joined.”

I’m not really sure what Toto is inferring here, “You cannot run a Formula 1 operation in the UK out of Germany. It is not only a difference in mentality – there is definitely a difference (laughs) – but it is also about physically being there.

Running a company from a distance never really works, so the question is either you run it full time or you don’t. And if you don’t, then you rely on management. In the past I have done that, but it was not the role Mercedes had envisioned for me.”

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Ecclestone legal troubles rumble on, Mystic Mallya and the invisible cash, Pirelli report on tyre performance from Jerez, Kovlainen ‘excellent’ candidate for Pirelli

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Follow thejudge13: Why not follow thejudge13 by email. Click on the button at the top right of the page to receive an email when (and only when) a new article hits the interweb.

I have now put 2 RSS feeds at the bottom of the right hand bar for those of you who know how to use them for updates.

TJ13 is now also on Facebook. Like us in the toolbar on the right if you’re a FB’er.

Let’s begin the news round up with a couple of our favourite F1 rogues. What have they been up to whilst the gaze of thejudge13 has been averted.

Ecclestone legal troubles:

Back on the 21st Nov 2012, TJ13 reported that a second litigation had been filed in the USA over alleged fraudulent transactions connected with the sale of F1’s commercial rights to CVC back in 2005. This follows the case in Munich already with the prosecutors who are considering charges of bribery and fraud.

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Interlagos storms predicted, RB handmade boots, Winter testing, Another $650m lawsuit for Ecclestone, Schumacher pushed, RB’s rubber nose, Lotus cash shortage

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Editor’s note:

thejudge13 has had a minor surgical procedure and is sore and very woozy from tablets 🙁 So if I’m incoherent or news items are a little succinct over the next couple of days I’m sure you’ll understand.

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Ecclestone’s problems growing: Bluewater Investment fund is now adding to the woes of Ecclestone by threatening to sue him for $650m damages. Added to this is the claim from German Bank Bayern LB’s for around $400m and we’re now at over $1bn in possible lawsuits against F1’s favourite rouge.

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What now for Lauda? Ecclestone fraud charges still loom, Kart won’t listed to Vettel’s s*^t, Alguersuari suggests Vettel will be spooked, RB will use new spec alternator in Brazil

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The end of Lauda Watch? This could be it folks, maybe Lauda watch will be no more. Today Reuters report that Damiler-Benz has severed all ties with Aabar investments who sponsor Lauda’s cap at $500,000 a year. Not only have they acquired Aabar’s 40% of the F1 team but also the 9% holding the Abu Dhabi sovereign fund had invested in Damiler-Benz the global car manufacturer.

Aabar have lost over $2bn by trying to be clever and underpin the Daimler-Benz acquisition with a derivatives deal which went wrong. They have in effect lost their shirt and the banks that funded the deal have retained the stock, which by the way is worth double the price Aabar paid for it.

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Nicole kisses Chris, Thai GP announced, Mercedes not yet seen Concorde? Ecclestone offers cash to settle bribe claims, Mr. E Wants Australia at night

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Well,  2 weeks since the launch of the blog – over 3000 hits and some very complimentary comments. I’ve quickly learned in social media though, you need a thick skin as some comments are not just au contraire but pretty abusive. Hey Ho.

Its not been too bad so far. We called the Jake leaving the BBC the week before it was announced and suggested in the “Shrinking Calendar” piece there may be trouble yet for New Jersey (You can see the date published on each article)

Well today was the day that wasn’t. We’ve had an FIA executive meeting with no news, a Mercedes car company board meeting with no news and the much awaited Eddie Jordan prediction was also – no news.

So here’s some links to a few things that have occurred.

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German Indictments imminent for Ecclestone

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Today Suddeutsche.de reports the following.

The German Bank – Bayern LB – that once held the commercial rights to F1 and paid Bernie Ecclestone 41million Euro’s in commission to find a buyer – is looking to recover its money.

We now know this money actually just circulated on to Gerhard Gribkowsky, a board member of Bayern LB, who was apparently tasked by Ecclestone to ensure the bank sell to Mr. Ecclestone’s client – CVC. On conclusion of this deal Gibkowsky received an alleged $44m from for his troubles from Mr. Ecclestone but he is now serving nearly 9 years in a German jail for his part in the collusion. His conviction is for participating in bribery.

Bayern LB have applied to see the records of the Munich prosecutors who won the Gibkowsky conviction saying, “We are preparing everything to make possible damage claims.” The prosecutors are apparently more than inclined to offer these files up, however, it appears lawyers for Mr. Ecclestone have sought an injunction with the Munich District Court to prevent this.

This may not be the only troubles on the horizon for Mr. Ecclestone, as representatives of Ruth Kirch, widow of the late media tycoon Leo Kirch, also wish to lodge a half a billion dollar lawsuit against Mr. Ecclestone. Kirch used to be the main shareholder of the F1 commercial rights before entering into loan arrangements with Bayern LB offering the rights as collateral.

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