The US automaker managed to convince a federal appeals court to approve the dismissal of a $3 billion lawsuit brought by Spyker NV because the latter considered that General Motors impeded with the sale of Saab to a Chinese buyer.
According to the 6th US Circuit Court of Appeals in Cincinnati, Spyker didn’t demonstrate how GM managed to derail the purchase – the Dutch automaker was planning to sell the Swedish carmaker to Zhejiang Youngman Lotus Automobile Co. According to Spyker, GM intentionally interfered with the sale, leading to Saab’s bankruptcy.
The three-judge 6th Circuit panel considered that GM’s measures were not hostile and it showed “legitimate business concerns” about the deal, with Circuit Judge Eugene Siler saying that Spyker’s claim was actually “fatally flawed,” as they considered that GM misread the license agreement, a fact – if true –that could have only resulted in the spokesman’s statements “at most amounting to a mistake.”
Back in 2010, after emerging from the government-sponsored bankruptcy, General Motors decided to sell Saab to Spyker – a Dutch limited-series supercar manufacturer. The US carmaker also licensed the new owner to produce Saab cars that used GM’s intellectual property, while keeping the right to denounce the deal if Saab was then sold to a third party without its agreement.