NETHERLANDS: Spyker opposes General Motors' Motion to Dismiss on complaint
Spyker submitted its claim against GM with the Eastern District Court of Michigan seeking redress for what it said was the manufacturer's "tortious interference" with the proposed involvement of Saab and Chinese company, Youngman.
General Motors has now filed a Motion to Dismiss in response to the complaint.
A statement from Spyker noted: "Spyker and Saab Automobile shall oppose the said Motion to Dismiss, assuming the Court grants an extension to which GM has agreed.
"Spyker and Saab Automobile filed a complaint on 6 August, last, with the US District Court, Eastern District of Michigan, seeking redress for GM's tortuous interference with a transaction between Saab Automobile, Spyker and Chinese investor Youngman.
"GM's tortious interference drove Saab Automobile into bankruptcy in December 2011."
The statement continues that, as to the substance of the argument, GM maintains, through the Vehicle Supply Agreement ( VSA ) and the Automotive Technology License Agreement ( ATLA ), GM had a contractual right to terminate the VSA and ATLA in case of a change of control in Saab.
After its investment Youngman would have controlled more than 20% of Saab, which would have caused a change of control.
"It goes without saying Spyker and Saab Automobile will oppose the Motion to Dismiss, such opposition being due on 9 November, 2012, assuming the Court grants an extension to which GM has agreed," added the Spyker statement.
Former Saab boss and Spyker CEO, told just-auto recently: "We would not have started this if we thought we could not win."
GM has already insisted the claim is "completely without merit" and has dismissed the allegations as "baseless."
Quarterly/fiscal full year results continued to roll in this week with a healthy uptick at Suzuki in 2012/3, the latest Japanese automaker to finally shrug off the combined effects of the double whamm...
Ongoing sovereign debt crises across Europe are continuing to have a major impact on the Continent's automaking development, with 2007 production levels not expected to return until 2017, says analyst...
New vehicle sales in Vietnam jumped by 34% to 8,001 units in April, from a depressed 5,972 units in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Asso...
American Axle & Manufacturing's (AAM's) net income in the first quarter of 2013 was US$7.3m, or $0.10 per share compared to net income of $51.2m, or $0.68 per share, in the first quarter of 2012, a fa...
Vehicle sales by General Motors (GM) and its joint ventures in China increased 15.3% year on year last month to an April record of 261,870 units.Vehicle sales by General Motors (GM) and its joint vent...
- Kia K900 knocks on big brands' door
- Daimler - Q2 results insight
- Global light vehicle market developments
- VEHICLE ANALYSIS: 2015MY Mitsubishi L200 Barbarian
- THE WEEK THAT WAS: Results season again
- Jaguar Land Rover buys British classic cars hoard
- New alloy developed for new Jag
- JLR China cuts prices amid anti-trust probe
- Tata Motors to assemble in Venezuela
- Union puzzled no buyer for Unipart Automotive