Formula One boss Bernie Ecclestone said he would fight a $400 million damages claim that German bank BayernLB is planning to file in London over the sale of the motor racing business in 2005.
Both banks intend to tap German investors focused on emerging markets.
A group of three banks has wrested control over the companies controlling Formula One's commercial rights from supremo Bernie Ecclestone.
Formula One Chief Executive Bernie Ecclestone has been indicted in Germany in a case relating to the sale of a stake in the motor racing business eight years ago, a spokesman for a Munich court said on Wednesday.
A German bank is on course to take legal proceedings against Formula One chief Bernie Ecclestone and his family trust fund for 345 million euros on account of the sale of its stake in Formula One.
Formula One Chief Executive Bernie Ecclestone said much of the motor sport's value before the sale of a major stake to private equity group CVC was down to his running of the business.
A British judge found on Thursday that Bernie Ecclestone had paid bribes to a German banker as part of a "corrupt agreement" linked to the 2005 sale of a stake in Formula One - an issue at the heart of Ecclestone's forthcoming bribery trial in Germany.
Gerhard Gribkowsky, an ex-BayernLB banker, is on trial charged with selling Formula One rights in return for a bribe, with the involvement of Ecclestone.
A firm's claim for more than $100 million in damages from Bernie Ecclestone is far-fetched and relies on confessions from a jailed banker who is a "fantasist", a lawyer for the Formula One boss argued on Wednesday.
Formula One supremo Bernie Ecclestone has taken legal action against British tax officials after facing a demand for payment of more than 1 billion pounds ($1.57 billion) in relation to a family trust.
Bernie Ecclestone risks losing his decades-old grip on Formula One motor racing this year, when legal action stemming from the sale of a stake in the sport eight years ago reaches a climax.
Formula One boss Bernie Ecclestone will stand trial on bribery charges in Munich, according to a statement from a German court.
Formula One chief executive Bernie Ecclestone goes on trial for bribery in Germany this week in a case that threatens to end the Briton's long reign as the commercial boss of the motor sport.
The International Automobile Federation (FIA) is in no danger of suffering the sort of corruption scandal currently engulfing world soccer governing body FIFA, its president Jean Todt said on Saturday.
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