US judge dismisses Spyker’s $3-billion suit against GM

Article by Anita Panait, on June 11, 2013

Judge Gershwin Drain of the United States District Court for the Eastern District of Michigan has dismissed a $3-billion lawsuit filed by Dutch sports car maker Spyker against General Motors Co. Spyker filed a suit against GM in August 2012, accusing the US carmaker of trying to prevent an agreement to sell collapsed Swede carmaker Saab to Zhejiang Youngman Lotus Automobile Co. as well as trying get rid of possible competitor in China.

In dismissing Spyker’s lawsuit, Drain said that GM had a contractual right to disapprove the proposed agreement. He ruled that GM had the right to block the sale of Saab, which is using its technology. He said that the acquisition agreement that gives GM the right to stop Saab’s change of ownership "is clear, unambiguous and absolute."

Drain added that GM’s statements expressing its opposition to the Youngman deal were not made with malice or to intentionally harm Saab. GM spokesman Dave Roman told Reuters in an e-mail that the carmaker is pleased with the court's decision to dismiss the case.

Spyker chief executive Victor Muller remarked to Reuters that they will wait for and assess first the written order. In 2012, GM discarded claims that it intently bankrupted Saab by blocking a deal with Youngman. GM has said that the lawsuit was without merit, noting that it had the legal right to approve Saab's transaction.

Topics: spyker, gm, lawsuit

If you liked the article, share on:

Comments

Recommended

Nissan revealed that the new 2017 Rogue Sport crossover will be priced in the U.S. market at $21,420. Specifically, this is for the front-wheel drive version of the Rogue Sport...
by - April 26, 2017
Remember the E30 BMW M3? Yes, the one from 1990. If you remember it right, it was also the company’s most iconic car and probably one of the best BMW...
by - April 26, 2017
Ferrari is cooking up something interesting for us. The last time they released the 488 GTB was two years ago, followed by a 488 Spider and several versions of it....
by - April 26, 2017
After launching the latest version of the BMW M550i xDrive, the German carmaker is now introducing its diesel counterpart -- the new M550d xDrive (G30/G31). Available either as a sedan...
by - April 26, 2017
A lot of news has been going around about the 2018 Dodge Challenger SRT Demon lately, and people are arguing whether the 840 horsepower vehicle by Fiat Chrysler should be...
by - April 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries