Spyker and GM face off in court over Saab
After being delayed three times, the first deliberation in the case where the Dutch car brand Spyker is suing the American General Motors for SEK 20 billion is taking place in a court in the U.S. state of Michigan Monday.
Spyker is accusing GM of causing the Swedish brand Saab Automobiles to go bankrupt, according to news agency TT.
The suit between the two former Saab owners revolves around Spyker's allegations that GM sunk Saab by refusing to allow Chinese involvement in a rescue plan. Just days before the bankruptcy in late 2011, GM had prevented the Chinese company Youngman from investing in Saab, which Swedish Radio P4 Väst reports, essentially punctured the rescue plan.
GM was able to stop Youngman's investment, since they owned the rights to several Saab models and also delivered parts. GM did not want to face more competition on the important Chinese market, which, according to the company, would not benefit its shareholders.
According to GM, its actions were completely in line with the agreement that existed between Saab and Spyker, when the Dutch company bought Saab from GM in 2010.
But according to Victor Muller, at the helm of Spyker, the actions were wrong, and he filed a lawsuit at the beginning of August last year. GM rejected the accusations and has requested the summons be dismissed.
The judge is listening to oral arguments from both sides to determine whether the lawsuit should go further or whether it should be dismissed. However, the ruling will likely not come today.