Judge holds fire on Bernie case
After two days of complex legal argument, a High Court Judge has reserved his judgement in the case between three banks and Bernie Ecclestone's family trust company Bambino Holdings, which could change the way the commercial side of F1 is run
Ecclestone and the banks must now endure a delay of several weeks before Mr Justice Andrew Park announces his verdict.
The case hinges on who has the right to appoint the directors of Formula One Holdings, the company which controls F1. Specifically three banks - JP Morgan, Lehman Brothers and Bayerische Landesbank, collectively known as Speedy Investments - are disputing the appointment by Bambino Holdings of Luc Argand and Emmanuelle Argand-Rey the board of FOH two years ago.
Those appointments effectively gave Bambino control of the board. Speedy Investments, which gained 75 per cent of the shares of FOH when the German Kirch media group, which had bought into F1, folded owing the banks $1.6 billion, says that the 2002 board appointments are invalid.
Both sides were reported to be confident going into the case, with Speedy's barrister asking for a summary judgement, because, she argued, Bambino Holdings had no defence to the challenge. Ecclestone meanwhile is said to appear typically unconcerned.
The major car manufacturers involved in F1 are watching the case carefully. Their GPWC Holdings organisation is set to launch a new rival to F1 in 2008, should the manufacturers fail to gain a greater say in the running of F1 and a greater share of the profits.
The forgotten F1 comeback that began Jordan’s odyssey
Before Michael Schumacher – or anyone else – had driven the 191 (or 911 as it was initially called), Eddie Jordan turned to a fellow Irishman to test his new Formula 1 car. JOHN WATSON, a grand prix winner for Penske and McLaren, recalls his role in the birth of a legend…
The squandered potential of a 70s F1 underdog
A podium finisher in its first outing but then never again, the BRM P201 was a classic case of an opportunity squandered by disorganisation and complacency, says STUART CODLING
The other notable Monza escape that F1 should learn from
OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences
How Monza only added more questions to F1's sprint race conundrum
With two sprint races under its belt, Formula 1 must now consider its options for them going forward. While they've helped deliver exciting racing on Sundays, the sprints themselves have been somewhat lacking - creating yet another conundrum for F1 to solve...
Who should Alfa Romeo sign for 2022's F1 season?
OPINION: With Valtteri Bottas already signed up for 2022, all eyes are on the race for the second seat at Alfa Romeo next year. Antonio Giovinazzi is the current incumbent, but faces a tough competition from appealing short and long-term prospects
The "forced break" that was key to Ricciardo's Monza excellence
OPINION: Daniel Ricciardo has long been considered one of Formula 1’s elite drivers. But his struggles at McLaren since switching from Renault for 2021 have been painful to watch at times. Yet he’s recovered to banish those memories with a famous Monza win – built on a critically important foundation
How Verstappen is ruining his F1 title battle with Hamilton
OPINION: The Italian GP clash between Lewis Hamilton and Max Verstappen followed a running theme in the 2021 Formula 1 title fight. Their close-quarters battles have often resulted in contact - and although Hamilton has shown a willingness to back off, Verstappen must learn to temper his aggression
Italian Grand Prix Driver Ratings
Two drivers produced maximum-score performances as, for the second year in a row, Monza threw up an unpredictable result that left several others ruing what might have been
