Dutch court sends Spyker NV into bankruptcy

Article by Christian Andrei, on December 20, 2014

A Dutch district court has declared Spyker NV bankrupt, placing the financially troubled supercar maker under court-supervised receivership. Also placed under receivership are Spyker’s wholly owned subsidiaries Spyker Automobielen and Spyker Events & Branding. The court-appointed administrator for Spyker is now tasked to guide the carmaker through bankruptcy proceedings, the Dutch company said in a statement.

The carmaker said that the court ruled to declare it bankruptcy after a planned bridge funding failed to reach it on time. Spyker founder and chief executive Victor Muller has vowed to revive the company and this time around, he said that his company’s bankruptcy “is not the end.”

He remarked that he will “relentlessly endeavor” to revive Spyker as soon as practically possible. He said that once Spyker is revived, it would merge with a high performance electric aircraft maker and develop electric vehicles with “disruptive sustainable technology.”

In November, a Dutch court ordered Spyker to vacate its plants in the Netherlands after falling around EUR125,000 ($155,000) into arrears on its rent. Spyker also saw its $3-billion lawsuit against General Motors dismissed by a court in the United States earlier this year. [source: Spyker]

Topics: spyker, bankruptcy

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