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View Full Version : Judge slams Ecclestone's F1 power


tlr online
06-12-04, 19:27
A judge has ruled against Bernie Ecclestone in a boardroom dispute which challenged the businessman's control of the firm behind Formula One racing. Three creditor banks were disputing the make-up of the board of Formula One Holdings (FOH) - the company that runs the Grand Prix circuit.

Outlining his judgment at London's High Court, Mr Justice Andrew Park said the banks' "contentions are correct". But Mr Ecclestone has reportedly said the verdict means "nothing at all". Talking to the Reuters news agency, Mr Ecclestone added: "The banks, they want to get out. These people didn't get their shares out of choice, they got them as a security. "We have no problems with the banks. This is just a problem of them trying to put value on their shares."

http://newsimg.bbc.co.uk/media/images/40603000/jpg/_40603009_ecclestone203.jpg

www.bbc.co.uk (http://www.bbc.co.uk)

voncroy81
06-12-04, 19:31
I luv F1 and dont like Bernie. i dont really know what that all means but it can only be bad for Bernie. YAY! :D

tlr online
06-12-04, 19:39
Beeb reports he wasn't too disappointed with the decision, which probably means he's another card up his sleeve. I can't see him relinquishing control of F1 so easily.