Saab saga's end? A judge dismisses the pending lawsuit against GM

We had been a long time without talking about Saab, once the company’s fate had been irrevocably sealed by bankruptcy. However, a multi-billion-dollar lawsuit filed by Spyker against GM remained pending. GM, at the time Saab was declared bankrupt, was one of the majority shareholders of the now-defunct Swedish company.

The lawsuit, for 3 billion dollars, was based on the claim that GM had obstructed the sale of Saab to the Chinese. For GM, it was “not convenient” to put within the reach of the Chinese technologies developed by Saab, but which GM had helped to a large extent bring to fruition, thanks to repeated investments in the Swedish company and the in-house manufacture of most of the components.

Luckily for GM, the American judge who examined the lawsuit announced that Spyker’s claims were dismissed, since he determined that GM did nothing wrong in using all of its means to prevent the sale of Saab to the Chinese. The judge based his decision on the fact that GM had the contractual right to approve or reject any buyer of Saab as it saw fit, and that Victor Muller was aware of all this during the time the sale to Youngman was being negotiated Lotus.

For the moment, Victor Muller has assured that they will wait for the written ruling dismissing the lawsuit before deciding what move they will make in the future. Spyker can appeal, although it is quite unlikely that they will manage to extract from GM the much-coveted 3 billion dollars, which would certainly come in handy to solve some of the problems the Dutch manufacturer is having.

Source: Torque News