General Motors has asked for more time to reply to the lawsuit brought by Spyker over the Saab affair, and Spyker has agreed to extend the deadline one month until September 28. A quick refresh: Spyker has accused GM of tortious interference in Saab's dealings with the Chinese investors that might have been able to save the company, and intentionally and unlawfully driving Saab into bankruptcy.
The Dutch sports car maker is seeking $3 billion in damages, that number being its putative valuation of Saab had it worked out a deal with Chinese investor Youngman. GM's position is still that the lawsuit has no merit. You'll find Spyker's press release about the extension below.
The Dutch sports car maker is seeking $3 billion in damages, that number being its putative valuation of Saab had it worked out a deal with Chinese investor Youngman. GM's position is still that the lawsuit has no merit. You'll find Spyker's press release about the extension below.
SPYKER AGREES TO GM's REQUEST FOR A 30-DAY EXTENSION OF THE DEADLINE TO RESPOND TO ITS COMPLAINT.
Zeewolde, the Netherlands, 24 August 2012 -- Spyker N.V. ("Spyker") announces that it has agreed to General Motors Company's ("GM") request for a 30-day extension of the August 28 deadline to respond to the Complaint, which response is now due on September 28.
Spyker and Saab Automobile AB filed the Complaint on Monday, August 6, at 08.00 EST. The lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market. 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 between Saab Automobile AB, Spyker and Chinese investor Youngman that would have permitted Saab Automobile AB to restructure and remain a solvent, going concern.
Zeewolde, the Netherlands, 24 August 2012 -- Spyker N.V. ("Spyker") announces that it has agreed to General Motors Company's ("GM") request for a 30-day extension of the August 28 deadline to respond to the Complaint, which response is now due on September 28.
Spyker and Saab Automobile AB filed the Complaint on Monday, August 6, at 08.00 EST. The lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market. 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 between Saab Automobile AB, Spyker and Chinese investor Youngman that would have permitted Saab Automobile AB to restructure and remain a solvent, going concern.
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