Spyker sues General Motors for $3 billion
#1
08-06-2012, 01:54 PM
Spyker sues General Motors for $3 billion Spyker sues General Motors for $3 billion
Says GM feared competing with Saab in China
Spyker Cars NV said Monday it is suing GM for $3 billion in damages over its failed takeover of Saab. Fox news is reporting that Spyker and Saab both allege GM unfairly blocked deals that would have seen a Chinese manufacturer take over Saab production and save it from bankruptcy.
Spyker CEO Victer Muller said, "We owe it to our stakeholders and ourselves that justice is done, we tirelessly worked to save Saab Automobile until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy."
Muller went on to tell reporters the suit filed with the United States District Court of the Eastern District of Michigan could drag on for "years."
GM could not immediately be reached for comment. Business law professor Anthony Sabino of John's University said to FOX News that at first glance, Spyker's suit was a long shot.
It should be interesting never the less to see how this one plays out.
Read The full story here: FOX NEWS
#2
08-06-2012, 02:00 PM
I'm confused, but why would spyker sue GM, it's not like they have any stake in the SAAB line?
#3
08-06-2012, 02:23 PM
If you'd read the article
Spyker has a lot to gain if they win the lawsuit. $$$$$$$
Spyker Cars NV, the tiny Dutch company that bought Swedish carmaker Saab from General Motors Co. for $74 million in 2010, said Monday it is suing GM for $3 billion in damages. Spyker, along with its now-bankrupt former Saab subsidiary, alleges that GM unfairly blocked deals that would have seen a Chinese manufacturer take over Saab production and save it from bankruptcy. It says GM feared competing with Saab in China.
#4
08-06-2012, 03:06 PM
isn't saab now owned by a chinese company? i thought the brand was purchased by a chinese company, according to the news a month or two ago.
very confusing but i never understood why spyker wanted saab anyways (beside the swedish connection).
very confusing but i never understood why spyker wanted saab anyways (beside the swedish connection).
#5
08-06-2012, 03:11 PM
What do you mean? You don't see why a sports car company making cars nobody wants (aside from patriotic Dutch lottery winners) would want to buy an already failed Swedish car company making cars nobody wants, owned by a large American car company making cars nobody wants on the verge of bankruptcy, for money they didn't have?
#7
08-06-2012, 06:18 PM
What do you mean? You don't see why a sports car company making cars nobody wants (aside from patriotic Dutch lottery winners) would want to buy an already failed Swedish car company making cars nobody wants, owned by a large American car company making cars nobody wants on the verge of bankruptcy, for money they didn't have?
