Dutch sportscar maker Spyker said on Monday it will oppose General Motors’s move of dismissing the lawsuit in which the U.S. carmaker is accused by Spyker of deliberately bankrupting Saab.
GM on Friday dismissed claims that it deliberately bankrupted the Swedish company by blocking a deal with a Chinese investor. GM said it had the legal right to approve Saab’s transaction with Zhejiang Youngman Lotus Automobile. GM had previously said the lawsuit was without merit.
“Spyker and Saab Automobile shall oppose the said Motion to Dismiss on November 9th, 2012, assuming the Court grants an extension to which GM has agreed,” Spyker said in a statement on Monday. Saab, a former Spyker subsidiary, stopped production in May 2011 when it could no longer pay suppliers and employees. Saab went bankrupt in December 2011, less than two years after GM sold it to Spyker.
GM, which has a partnership in China with SAIC Motor Corporation, blocked deals with Pang Da and Youngman, Spyker motivated its lawsuit. According to the Dutch company, GM’s efforts to kill any sale were made to eliminate a potential rival in China. GM had said it would stop supplying vehicles and technology to Saab’s new owners as it would be against the interests of its own shareholders.
Spyker is seeking at least $3 billion in compensatory damages, as well as interest and punitive damages, and legal fees.