Joe Saward on the situation around the upcoming IPO of formula 1

F1News. EN told with reference to British sources, the placing shares Formula 1 on the stock exchange, postponed to 2014, may still be held this fall. Journalist Joe Savart talks about the reasons why Bernie Ecclestone to return to this topic.
Joe sawar: "As you can imagine, it is quite logical that the Fund CVC Capital Partners (controlling the economy Formula 1) would like to get rid of shares of Formula 1, since the scandalous Scam Gerhard Gribkowsky organization receives not the best advertising. Just this such companies seek to avoid.
Last year's hasty attempt to organize the placement of shares on the Singapore exchange was equally abruptly suspended: left with the impression that Capital Partners something suddenly frightened. We explained that the decision to give back associated with an unhealthy state of the world economy, however, there is little doubt that certain role was played and it Gribkowsky, and the ensuing legal troubles properties.
Since then, the situation has hardly changed for the better, although the Bavarian Prosecutor's office very long pulls with the solution: it seems that scandalous affair will generally be buried. But in several other countries launched several lawsuits related to this story, so lawyers Formula 1 lack of cases.
Controlled by the the Bernie Ecclestone, the British press is trying to present everything as if the head of the management of Formula 1 is just going to make fun of his opponents in the High court of London, but there is a vague suspicion that all this is nothing more than bravado.
In addition, in new York unwound another rather unpleasant affair that against Ecclestone, his companies Alpha and Delta Topco Topco, as well as against CVC, Gerhard Gribkowsky and Bank BayernLB started the American investment Fund Bluewaters, voiniv the claim for $650 million Argues that all of these individuals and organizations consisted of conspiracy and must compensate the material damage. Allegedly Bluewaters at one time was willing to pay $1 billion for 42.7 per cent stake in the Formula 1, which eventually acquired CVC for $830 million
Ecclestone was sent to the new York court official letter, stating that it may not fall under American jurisdiction, but there is no doubt that some of the grounds for such a claim is still there. We can assume that American justice is going to intervene in this case because the money secretly translated on account Gribkowsky passed through banks in new York city.
If the court finds that the case is under the jurisdiction jurisdiction of the United States, we can assume that the us government will see it as an opportunity to replenish the Treasury at the expense of fines, because in this country there is a very strict Law against foreign corrupt practices (FCPA), which prohibits bribes to officials in all countries of the world. This law very actively used in recent years in cases where been able to identify any American trail. Currently, all of the discussions going on jurisdictional issues, however, this is unlikely the case will quickly be swept under the carpet".