Aston Martin's new owners just finished untangling the red tape from their acquisition of the brand from Ford, and already they're back in court. The British sportscar maker is being sued by its own Gulf distributor for breach of contract.
Middle East Aston Martin (MEAM) was set up in 2003 with an exclusive deal from Aston Martin, then still owned by Ford, to distribute its sportscars across the region. The deal was reportedly signed for five years, with an option to renew for another five. However MEAM's lawyers are alleging that the now-independent Aston Martin, owned by a conglomerate of Kuwaiti investment firms, refused to renew the deal. The Dubai-based distributor is suing for $50 million, which it says would cover its investment in developing the market for Aston Martins in the Middle East, where as we already know, premium sportscars are in high demand.
[Source: Edmunds AutoObserver]