What is in this article?:
- Saab, Spyker File $3 Billion Claim against General Motors
- Youngman's Blocked Buy
Dutch carmaker Spyker said Monday that it has filed a three-billion-dollar claim in a U.S. court against General Motors (IW 500/4), whose actions it said led directly to Swedish Saab's bankruptcy last year.
"The lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile (IW 1000/840) in the Chinese market," Saab's owner Spyker said in a statement issued in Zeewolde in the Netherlands.
The Swedish carmaker filed for bankruptcy in December after attempts to raise funds in China were thwarted by GM, which had previously owned Saab and refused a transfer of patents needed for the Chinese deal to go through.
"GM's actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a result of GM's tortiously interfering with a transaction... to restructure and remain a solvent growing concern," Spyker said in the statement.
Detroit-based GM said in an email to AFP its lawyers "would review the lawsuit and respond in due course."
Spyker said it would pay for Saab's legal costs in the case filed in Michigan's Eastern District Court, in return for a "very substantial share of Saab Automobile's award when the proceedings are successful."