Saab, Spyker and the Legal Battle with GM

Saab, Spyker and legal battle with GM

Saab is gone but not forgotten as Spyker files for a three billion pound legal case.

The Saab owners are claiming that General Motors purposely pushed Saab into bankruptcy by stopping the sale to Youngman which could have regenerated and secured the brand.

Spyker declared Saab as bankrupt at the end of last year and claims that they had no other option as the American giant GM had blocked the sale in an attempt to eliminate future competition.

A spokes person for Spyker made a statement which said  “The transaction between Saab Automobile, Spyker and Chinese investor Youngman would have permitted Saab Automobile to restructure and remain a solvent, going concern.”

The bad feeling runs very deep and chief executives claim that they have been working on the legal aspects since the brand closed back in December.

Spyker / Saab said “Ever since we were forced to file for Saab Automobile’s bankruptcy in December of last year, we have worked relentlessly on the preparation for this lawsuit which seeks to compensate Spyker and Saab for the massive damages we have incurred as a result of GM’s actions. We owe it to our stakeholders and ourselves that justice is done and we will pursue this lawsuit with the same tenacity and perseverance that we had when we tirelessly worked to save Saab Automobile, until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy.”

General Motors have commented to the BBC that the claims are “baseless” adding  “We have reviewed the complaint, and it is completely without merit. “We will vigorously defend the company.”

Legal battles are never in expensive and as Saab is now bankrupt they have turned to parent company Spyker to fund the battle who have in-turn secured further investment.

So where Spyker right to persue GM?

Did General Motors use the blocking of the sale as an opportunity to get rid of competition in the form of a new re-invigorated Saab either way it will now be for the courts to decide?

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