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:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016