Deutsche Bank refuses to be intimidated by Dale Earnhardt Inc.
A suit filed yesterday accuses the late Nascar driver’s racing team of backing out of a deal to sell a $3 million bankruptcy claim against General Motors over a supply contract for its Chevrolet stock cars.
Deutsche Bank claims Earnhardt — whose hard-charging founder was nicknamed “The Intimidator” — agreed to accept about $943,000 for its claim last year.
But the Manhattan federal court filing says Earnhardt instead sold it to The Seaport Group investors last month for an unspecified amount.
Deutsche Bank — which wants unspecified damages for breach of contract — says the busted deal cost it “the opportunity to sell the claim to another buyer at a profit, and/or…the ability to collect any distribution that General Motors has made or will make on the claim.”
An Earnhardt spokesman declined to comment.


