Dutch appeals court cancels bankruptcy of Spyker NV

Article by Christian A., on February 3, 2015

A Dutch appeals court has declared the bankruptcy of financially troubled Dutch supercar maker Spyker "null and void with retrospective effect." A local court placed the company in bankruptcy on Dec. 18 by a Dutch court after the bridging funds promised during creditor protection failed to materialize. Spyker only received the funds 11 days later and then filed an appeal on bankruptcy ruling.

The nullification of the bankruptcy declaration means that Spyker is now back under the protection of the "moratorium of payment," which is similar to the Chapter 11 protection in the United States.

With the matter resolved, Spyker chief executive Victor Muller said he plans to push ahead with development of the B6 Venator entry-level luxury sports car as well as merge with a US-based maker of high performance electric aircraft.

The company unveiled the 375-hp V6-powered B6 Venator at the 2013 Geneva auto show and hopes it would bring more business. It was suggested to have a tag of around EUR160,000, or about EUR40,000 cheaper than Spyker C8 Aileron sports car.

Muller wants Spyker to merge with an aircraft maker once the company emerges from the "moratorium of payment." He said that the “new sustainable and disruptive technologies" currently being developed by that aircraft maker would be of value in future "full electric" Spyker cars.

According to Muller, Spyker has reached an agreement with the majority of its creditors, which means that the carmaker could exit 'moratorium of payment' in a matter of weeks."

Topics: spyker, bankruptcy

If you liked the article, share on:

Comments

Recommended

Just a month ago, Wolfgang Durheimer, the former president of Bugatti, was removed from the company so he could replace Stephan Winkelmann, former Lamborghini CEO and Audi Sport boss as...
by - September 23, 2017
BMW will be launching a new Competition Package especially for the M5’s 2018 model year. While in Frankfurt, Andy Cook, BMW’s product exec has talked with Motor 1 regarding some...
by - September 22, 2017
BMW’s pure M and M-performance are currently being offered with six- and eight-cylinder turbocharged engines. But while German premium rival Mercedes-Benz offers – through its AMG division – a line...
by - September 22, 2017
In a recent report by Automotive News, we learned that FCA is no longer pursuing its original plans in using Alfa Romeo’s Giorgio architecture on both the Dodge Charger and...
by - September 22, 2017
Volvo Cars is proving that it is serious in its intention to grab a good piece of the global market for premium sports utility vehicles. While its XC60 and the...
by - September 22, 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