Dutch car maker Spyker NV has filed a lawsuit in the United States District Court of the Eastern District of Michigan accusing General Motors of intentionally sabotaging and subsequently bankrupting SAAB Automobile which stopped production of cars in May 2011 after running out of money to pay suppliers and employees.
The subsidary went six feet under later in December with over 1.93 billion U.S. dollars in debt. Spyker is now suing GM for more than 3 billion U.S. dollars in compensation including legal fees and interest.
According to Spyker, GM sabotaged SAAB negotiations with Chinese investors when the Swedish carmaker tried to "secure liquidity and restructure" by publishing false information and using other methods of discouraging the deal.
Spyker's CEO Victor Muller confirmed the existence of the lawsuit and stated that "GM had it coming".
Spyker claims that GM, which sold SAAB to Spyker in 2010, said it would discontinue supplying parts and the technology to Spyker despite the fact that Spyker did not need GM's supplies and that GM was legally obligated to supply Spyker with SAAB 9-4X SUV parts up through 2014 according to contract.
Moreover, as SAAB came close to closing a deal with Pang Da Automobile Trade Co Ltd. and Zhejiang Youngman Lotus Automobile Co., GM unnerved the investors and blocked the negotiations so it wouldn't have competition in the Chinese automobile market.
Of course, in response to Spyker's lawsuit, which took over 6 months of preparation, GM sent out spokesman Dave Roman to dismiss the lawsuit saying that "we will vigorously defend the company against these baseless allegations."