Spyker to appeal court dismissal of Saab suit vs GM

Article by Anita Panait, on June 22, 2013

Spyker NV has disclosed that it will appeal a decision by United States District Judge Gershwin Drain of the US District Court for the Eastern District of Michigan dismissing its $3 billion lawsuit against General Motors Co. Spyker has accused GM of trying to collapse Swedish carmaker Saab.

Saab said that after a “careful review” of the court ruling, it decided to make an appeal. In dismissing Spyker’s lawsuit, Judge Drain said on June 10, 2013, that GM had a contractual right to approve or disapprove the proposed sale of Saab to Zhejiang Youngman Lotus Automobile Co. Saab halted production in May 2011 when it lost ability to pay suppliers and it workforce.

Saab declared bankruptcy in December 2011, less than two years after GM sold the carmaker to Spyker. The Dutch sports car maker filed a case against GM in August 2012, seeking damages and accusing GM of trying to ruin the deal with Zhejiang and get rid of a potential rival in China. [source: Reuters]

If you liked the article, share on:

Topics: spyker, saab, gm, lawsuit

Comments

Recommended

Lynk & Co, a carmaker founded just two years ago, is introducing its third production model: the Lynk & Co 03 sedan. This new model – derived from a concept...
by - August 10, 2018
It is quite common to see Mercedes-Benz taxis plying the streets of Germany. Mercedes-Benz E-Class taxi models can be found in almost every taxi stand throughout the country. In fact,...
by - August 10, 2018
The final production model of the 2019 BMW X7 is already set to be unveiled to the global public at the upcoming Los Angeles Auto Show in November. Yet would-be...
by - August 8, 2018
When the seventh-generation 2019 Lexus ES was unveiled in China in April, the all-new premium sedan managed to draw attention from customers around the world. For customers in the United...
by - August 8, 2018
Acura is rolling out this month the latest iteration of its mid-size three-row luxury sports utility vehicle – the 2019 Acura MDX. The sixth installment of Acura’s third-generation luxury SUV,...
by - August 1, 2018