Spyker CEO, Victor Muller, insists he is not throwing money “into a black hole,” maintaining the Dutch automaker will win its US$3bn lawsuit against General Motors, despite the American automaker’s filing of a Motion to Dismiss in relation to Saab’s bankruptcy last year.
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.
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General Motors has now filed a Motion to Dismiss in response to the complaint.
“You can rest assured me being a lawyer and my attorneys being the most serious you can get, we would not have started this if we thought we could not win,” Muller told just-auto. “Why throw money into a black hole?
“What we have alleged is they deliberately interfered with the process of Youngman coming [into] Saab as a joint venture. Since GM was the number one supplier to Saab, they made it clear to Youngman if they did this deal, they would never get any parts.”
And of his time at the helm of Saab, Muller added: “I don’t look back with regret – I look back in anger. That such a beautiful company was brought to its knees for no reason.”
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By GlobalDataA statement from Spyker says GM is arguing under Swedish law, which according to GM should apply, there is no cause for action “for a purely financial loss due to tortious interference, absent an allegation of criminal conduct.”
The Spyker statement continues: ” As to the substance of the argument, GM argues that, under the Vehicle Supply Agreement ( VSA ) and the Automotive Technology Licence 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 November 9th, 2012, assuming the Court grants an extension to which GM has agreed.”
Saab collapsed at the end of last year owing substantial debts to creditors including at least what is thought to be EUR150m to suppliers. National Electric Vehicle Sweden (NEVS) has now taken over Saab and although it will continue to use the iconic name, will not be allowed to feature the automaker’s Griffin logo.
General Motors in Europe was not immediately available for comment.
