US Judge Throws Out Spyker's $3 Billion Lawsuit Against GM

A US judge has thrown out Spyker'sSpykerNetherlands, 1880 > present7 models
106 photos
1 video
$3 billion lawsuit against General MotorsGMUnited States of America, 1998 > present8 models
240 photos
that alleged that GM attempted to bankrupt SaabSaabSweden, 1947 > present28 models
718 photos
4 videos
by blocking its sale to Chinese companies. The judge ruled that GM had the right to block the sale because it would have meant transferring its technology against its will to a Chinese competitor. 

"General Motors had a contractual right to approve or disapprove the proposed transaction. The court is going to grant the motion to dismiss the matter," said U.S. District Court Judge Gershwin Drain in the ruling.

The judge says that there was a clause in GM's remaining ownership of Saab at the time of the sale that it had the right to stop changes in ownership. According to the judge, that clause was "clear, unambiguous and absolute."

Spyker has not said whether it will appeal the case.

"We are pleased with the court's decision to dismiss the case, which we believe was the appropriate result," said GM spokesman Dave Roman.

Source: Automotive News Europe