JUNE 11, 2002
Claims against Bayerische Landesbank in EM.TV case
THE BAYERISCHE LANDESBANK, one of the major creditor banks of Kirch and therefore an important player in Formula 1 at the moment, has been accused of aiding and abetting fraud in relation to transactions involving EM.TV and Kirch. The German public prosecutor is to look into the allegations which have been made by an EM.TV shareholder who argues that the bank accepted 16.7% of SLEC (the parent company of the Formula One group) as a pledge to Kirch and thus was a party to an alleged fraud by the former EM.TV management.
The story of the Formula One group has been a sorry tale since Bernie Ecclestone sold his shares a couple of years ago with Morgan Grenfell, EM.TV and Kirch all having run into serious difficulty as a result of their investments in the sport.
|Print News Story|
BAT AND GALLAHER
CLAIMS AGAINST BAYERISCHE LANDESBANK IN EM.TV CASE
COLUMBIA BIDDING FOR KIRCH TV ASSETS
FRENCH ELECTION GIVES HOPE FOR FRENCH RACERS
JOHANSSON WITHDRAWS FROM LE MANS
NO REACTION FROM LE MANS
RED BULL AND ARROWS
TESTING KICKS OFF IN JEREZ