Spyker secures court win against bankruptcy image

Dutch supercar maker Spyker had been struggling financially for quite some times now, but in a recent turn of events the company caught a break and secured a positive result for its appeal against entering the bankruptcy procedures.

Spyker CEO Victor Muller even claims the firm will continue its goal of developing the new B6 Venator, a more affordable luxury sports car. Additionally, after for years mulling a connection with the world of airplanes, it intends now to merge with a US based producer of high performance electric aircraft. Spyker, known for its craftsmanship in producing exclusive sports cars, had come to widespread international attention after a failed attempt to acquire Sweden’s Saab from General Motors back in 2010 – an ill-fated business attempt that has also bestowed the era of numerous financial setbacks. Last year the carmaker was placed in bankruptcy on December 18 by a Dutch court after the company failed to secure promised finances while under creditor protection. The automaker managed to come up with the money just 11 days later and appealed the court’s bankruptcy decision.

A Dutch appeals court now decided the bankruptcy was “null and void with retrospective effect,” with Spyker back in “moratorium of payment” payment – akin to the US Chapter 11 protection from creditors. The company also said it would swiftly exit the protection stage, after it reached deals with most of its creditors. Spyker now mulls the introduction of a 160,000 euros (around 40,000 euro cheaper than Spyker’s 4.2-liter C8 Aileron) B6 Venator, which is equipped with a mid-engined V6 that churns out 375 hp – first revealed during the 2013 Geneva auto show. The model designed to attract younger and less-affluent buyers, would compete with models such as the Porsche 911 and Lotus Evora.

Via Automotive News Europe