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

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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.

MRTI: pre-season testing Day 3 notebook

Photo: Indianapolis Motor Speedway, LLC Photography
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Day 3 of pre-season testing at Homestead-Miami Speedway saw the Pro Mazda Championship Presented by Cooper Tires and the Cooper Tires USF2000 Championship Powered by Mazda continue testing for the second day in a row, with each series completing three sessions on what was their final day of running.

Quick reports on both series are below.

Pro Mazda: Cunha Surges to the Front

While Saturday saw Pro Mazda newcomers like Oliver Askew, Parker Thompson, and Rinus VeeKey lead the way, Sunday saw a pair of second-year Pro Mazda drivers take their turns at the top of the speed charts. In the combined results, Juncos Racing’s Carlos Cunha turned the fastest lap of the final session, also good enough to be the outright fastest lap of the weekend, taking advantage of a fresh set of Cooper Tires to do so.

“I’m really happy, Juncos Racing is an amazing team,” Cunha said of the team’s performance. “On track, we are always improving, never going backwards and that’s very good. We have tested a lot but we still need to learn a lot about the car, though we are almost to a perfect setup. The team has given me everything I need to be comfortable inside the car, to know what the car needs, and to know what I need to be a better driver. We have time to improve and we are moving forward quickly.”

Fellow sophomore driver Sting Ray Robb, now with Team Pelfrey, was right behind Cunha in second.

Combined results across both Saturday and Sunday can be found here.

USF2000: Kirkwood, Cape Motorsports Stay On Top of Deep USF2000 Field

New Cape Motorsports driver Kyle Kirkwood, who topped Session 2 on Saturday, stayed on top of the combined speed charts across the weekend on the strength of his best lap from Session 3 of the weekend on Saturday.

Pabst Racing’s Rasmus Lindh was right behind Kirkwood, on the strength of his quick lap from Session 1.

However, Sunday’s running saw a different driver assert his authority, with Kaylen Frederick, Lindh’s teammate at Pabst, turning the fastest lap during the final session.

Frederick ended up fourth in the combined results, which can be viewed here.

The Indy Lights Presented by Cooper Tires will take to the Homestead-Miami road course on Monday for the final day of testing for the Mazda Road to Indy.

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