Ecclestone ruling is reserved

A High Court judge in London has reserved his ruling on a case that could lead to Bernie Ecclestone losing control of Formula 1 racing.

Three creditor banks have disputed the make-up of the board of Formula One Holdings (FOH), the company that runs the circuit.

Mr Ecclestone’s family trust firm has a majority on the FOH board, despite only owning 25% of its parent firm.

The judge said he would hand down his judgement later in the year.

FOH has indicated it will abide by any decision of the court. At stake is Ecclestone’s grip over a sport from which he has amassed a reputed fortune of €3.3bn.