Chris Maduewesi
Member
Formula one supremo Bernie Ecclestone on Thursday won an £85million damages claim suit filed against him.
However the 83-year admitted that he paid a bribe over a sale of Formula One shares.
Constantin Medien instituted a suit against the F1 boss,claiming a sale of a stake in F1 was agreed "without the normal and proper process" and for an undervalued price, thereby they sought an £85million compensation.
Delivering judgement in the two-month old case,Justice Newey said the damages claim failed because it had been "no part" of Ecclestone's purpose for shares to be sold at an "undervalue" price.
"No loss to Constantin has been shown to have been caused by the corrupt arrangement," the judge was quoted as saying on BBC Sport. "That fact is fatal to the claim."
A statement said Ecclestone, was "delighted" the claim had failed.
However the 83-year admitted that he paid a bribe over a sale of Formula One shares.
Constantin Medien instituted a suit against the F1 boss,claiming a sale of a stake in F1 was agreed "without the normal and proper process" and for an undervalued price, thereby they sought an £85million compensation.
Delivering judgement in the two-month old case,Justice Newey said the damages claim failed because it had been "no part" of Ecclestone's purpose for shares to be sold at an "undervalue" price.
"No loss to Constantin has been shown to have been caused by the corrupt arrangement," the judge was quoted as saying on BBC Sport. "That fact is fatal to the claim."
A statement said Ecclestone, was "delighted" the claim had failed.
