Spyker Will Appeal Judge’s Dismissal of the $3B Lawsuit Against GM image

Spyker said it will appeal the decision taken by the US judge to dismiss the $3-billion lawsuit against GM.

Spyker, the owner of Saab, said that it would appeal the US judge’s decision against its $3-billion lawsuit in which it accuses GM of willingly trying to bankrupt Saab. On June 10th, US District Judge Gershwin Drain said that GM had the right to approve or oppose Saab’s sale to China’s Zhejiang Youngman Lotus Automobile.

In May 2011 Saab stopped production as it was in the impossibility of paying its suppliers and workers and in December 2011 it filed for bankruptcy, less than two years after GM sold it to Spyker. GM was sued in August 2012 by Spyker who is still seeking damages and accuses the US automaker of tying to ruin the deal with Zhejiang in order to eliminate a potential competitor in China.

Last month Swedish prosecutor Olof Sahlgren said the three Saab executives are “suspected of aggravated attempts to avoid tax controls” by falsifying parts of the company’s accounts from 2010 to 2011. The three executives were not identified, but it is known that they worked for the automaker while it was owned by Spyker.

Source: Reuters