Get The Ppcrn: Spyker Sues GM For 3 Billion

Bertel Schmitt
by Bertel Schmitt


That was the first comment from the acolytes of the recently a bit depressed fansite Saabsunited, when it was announced that Victor Muller’s Spyker sued GM for $3 billion over Saab’s bankruptcy.

“It’s hard to believe. We have no comment until we see the lawsuit,” said GM spokesman James Cain to Reuters. The complaint is attached to this message.

According to a statement by the propeller-brand, Saab’s bankruptcy was GM’s fault:

“GM’s actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a result of GM’s … interfering with a transaction between Saab Automobile, Spyker and Chinese investor Youngman that would have permitted Saab Automobile to restructure and remain a solvent, going concern.”

Spyker sued for “tortious interference with economic ecpectancy” (translation: GM mucked with Saab’s deal with Youngman to protect itself from competition in China.) The suit was brought in the U.S. District Court for the eastern district of Michingan (Soutrhern Division.)

Now isn’t the aggrieved entity Saab and not Spyker? Sure it is. Saab’s new owners apparently don’t see much merit in the lawsuit. Says the press release:

“Since Saab Automobile is in receivership and hence incapable to contribute to the costs of litigation, Spyker and Saab Automobile have entered into an agreement pursuant to which Spyker will bear the costs of such litigation in exchange for a very substantial share of Saab Automobile’s award when the proceedings are successful. Spyker has secured the financial backing required to see the lawsuit through to the end from a third party investor.”

Bertel Schmitt
Bertel Schmitt

Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href=""> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href=""> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.

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  • Paddan Paddan on Aug 07, 2012

    Don't dismiss the suit as BS until you read the documents that underlie it. I have not, so will wait to pass judgment. I will say this - Patton Boggs a well respected, substantial firm. Suspect it will settle and I don't see any downside to it if I am sitting in Mueller's shoes.

    • See 2 previous
    • Paddan Paddan on Aug 07, 2012

      @binkje Not true. There is such a thing as Rule 11 sanctions.

  • Voyager Voyager on Aug 09, 2012

    Saab, never a dull moment. GM has time until the 28th to respond. I am curious what GM will come up with.

    • Voyager Voyager on Aug 10, 2012

      The problem is if you go for 3 billion, you lose credibility if you settle for let's say one percent. Truth is that Muller can use all the millions he can lay his hands on. Hidden motive might also be that Muller is trying to deflect any liability himself.

  • Binkje Binkje on Jun 10, 2013

    General Motors Co on Friday dismissed claims made in a $3 billion lawsuit filed by Saab's parent that the U.S. automaker deliberately bankrupted the Swedish company by blocking a deal with a Chinese investor.

  • Binkje Binkje on Jun 10, 2013

    Saab parent's $3 billion lawsuit versus GM thrown out by U.S. judge