GM Rejects Spyker’s Lawsuit Over Saab image

GM tries to convince the US authorities to reject Spyker’s lawsuit, according to which it seeks $3 billion in damages accusing GM for deliberately causing Saab to go bankrupt.

Spyker filed the lawsuit at the beginning of August and accused GM of criminally interfered in an operation that could have helped Saab restructure and remain in the market, just because the US automaker wanted to be the one dominating the Chinese auto market.

Saab, which was a GM subsidiary, filled for bankruptcy in December 2011 after it had struggled for more than two years to get back on the track. A last bid made by group Youngman, that could have saved the company, was nixed by GM over technology transfer issues. GM denied the accusations.

“Saab had granted GM a contractual right to consent or to withhold its consent to the transaction plaintiffs proposed. In fact, all GM is alleged to have done is publicly express its lack of support for plaintiffs’ last-ditch proposal. That conduct cannot constitute improper interference as a matter of law,” said GM.

Although GM sold Saab to Spyker in 2010, the former GM subsidiary was still allowed to use the US automaker’s technologies to keep production going, and GM had the right to end the deal if Saab changed hands.