Spyker Files $3 Billion Lawsuit Against GM on Behalf of Saab

SpykerSpykerNetherlands, 1880 > present7 models
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has filed a $3 billion lawsuit against General MotorsGMUnited States of America, 1998 > present8 models
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in United States District Court of Eastern District of Michigan because it claims that GM unlawfully blocked Saab’sSaabSweden, 1947 > present28 models
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competition in the Chinese market, and that these actions caused Saab to declare bankruptcy. Spyker claims for the reason for Saab’s bankruptcy was that GM blocked Spyker from merging Saab with Chinese automaker Youngman. Spyker and GM were co-owners of Saab during its sale. it announced the lawsuit on its Twitter page.

Due to Saab’s recent sale, Spyker claims that Saab does not have the capital to fund a lawsuit against GM. Therefore, Spyker will pay for the lawsuit but take a large portion of the proceeds if it is successful. Spyker says that it has received financial backing from an unnamed third-party that will allow it to fund the lawsuit.

"Ever since we were forced to file for Saab Automobile's bankruptcy in December of last year, we have worked relentlessly on the preparation for this lawsuit which seeks to compensate Spyker and Saab for the massive damages we have incurred as a result of GM's unlawful actions. We owe it to our stakeholders and ourselves that justice is done and we will pursue this lawsuit with the same tenacity and perseverance that we had when we tirelessly worked to save Saab Automobile, until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy," said Spyker CEO Victor R. Müller.

It is hard to see this lawsuit being successful at least from this very early point. GM has a partnership with Chinese automaker SAICShanghaiChina, 1958 > 19792 models
, and some of its intellectual property would have been transferred to Youngman if the Saab partnership had been successful. It is easy to understand why it might not want this to happen. GM had the clout to block the merger, and it did. 

Source: Spyker Twitter