Spyker has filed a $3 (€2.4 / £1.9) billion dollar lawsuit against General Motors for interfering with Saab's sale to Chinese investors.
Spyker has filed a $3 (€2.4 / £1.9) billion dollar lawsuit against General Motors.
The compliant alleges that General Motors took "unlawful actions" to avoid competing with Saab Automobile in the Chinese market. Spyker says these actions - most notably interfering with a transaction between Saab, Spyker and Youngman - directly contributed to "driving Saab Automobile into bankruptcy."
Since Saab is in receivership, Spyker will bear the costs of the litigation in exchange for a "very substantial" share of any successful judgment against GM.
In a statement, Spyker CEO Victor Muller said "Ever since we were forced to file for Saab Automobile's bankruptcy in December of last year, we have worked relentlessly on the preparation for this lawsuit which seeks to compensate Spyker and Saab for the massive damages we have incurred as a result of GM's unlawful actions." He added, "We owe it to our stakeholders and ourselves that justice is done and we will pursue this lawsuit with the same tenacity and perseverance that we had when we tirelessly worked to save Saab Automobile, until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy."