We present the results of a new spectroscopic and photometric survey of the hot X-ray cluster 1E0657-56, at z=0.296. We determine the presence of a low velocity dispersion subcluster, which is offset from the main cluster position by 0.7 Mpc and =~ 600 km s-1. We determine the virial masses and total luminosities of the cluster and its subcluster, and solve for the two-body dynamical model. With additional constraints from the results of the analysis of the cluster X-ray emission by Markevitch et al. (cite{mar01}), we find that the subcluster passed through the cluster centre =~ 0.15 Gyr ago. Taken at face value the mass of the subcluster is typical of a loose group. It is however difficult to establish the pre-merger mass of the colliding system. We provide tentative evidence that the subcluster is in fact the remnant core of a moderately massive cluster, stripped by the collision with 1E0657-56. The main cluster dynamics does not seem to have suffered from this collision. On the contrary, the cluster X-ray properties seem to have been significantly affected. We also discuss the effect of the subcluster collision in relation to starburst events and the cluster radio halo. Based on observations collected at the European Southern Observatory (La Silla, Chile), Proposal ID: 64.0-0664.