Spyker sues GM for US$3b in US court over Saab bankruptcy
AMSTERDAM, Aug 6 – Dutch company Spyker said today it had filed a US$3 billion complaint against General Motors in a US district court on behalf of its subsidiary Saab Automobile which was declared bankrupt in December 2011.
“This lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market,” Spyker said in a statement.
“GM’s actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a result of GM’s ... interfering with a transaction between Saab Automobile, Spyker and Chinese investor Youngman that would have permitted Saab Automobile to restructure and remain a solvent, going concern.”
GM could not immediately be reached for comment. – Reuters