Spyker to oppose GM’s motion to dismiss Saab lawsuit

Article by Christian A., on October 2, 2012

Spyker NV said last Monday that it will oppose General Motors Co.’s motion to dismiss the lawsuit that the Dutch sports car maker filed against GM for over $3 billion on behalf of Saab. Last Friday, GM dismissed claims that it had intentionally collapsed the Swedish company by obstructing a deal with a Chinese investor.

To respond to the case filed in the U.S. District Court for the Eastern District of Michigan, GM said that it legally had the right to give approval to Saab's contract with China's Zhejiang Youngman Lotus Automobile Co. Previously, GM said that the lawsuit filed last month by Spyker didn’t have merit. In a statement last Monday, Spyker said it will contest the motion to junk the case on Nov. 9, on the assumption that the court gets an extension to which GM has agreed to.

Saab ended production in May 2011 when it could not anymore pay suppliers and employees. Less than two years after Spyker was sold by GM, it became bankrupt last December. For several months, Spyker and former Saab CEO Victor Muller had attempted to implement a rescue deal with different Russian, Middle Eastern and Chinese investors, which include Youngman and Pang Da Automobile Trade Co Ltd.

Spyker asserts that GM, which has operations in China in a partnership with state-run automaker SAIC Motor Corp Ltd, effectively averted deals with Pang Da and Youngman late last year. In the lawsuit, Spyker said that GM's actions to terminate any sale were done to take out a possible rival in China. GM said that it will halt the supply of vehicles and technology to Saab's new owners since it would be against its shareholders’ interests.

Topics: spyker, gm, saab, lawsuit

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