Report: GM wins appeal, dismissal of $3B Saab-related Spyker suit Filed under: Government/Legal, GM, Earnings/Financials, Spyker Its been a long time since we last heard of the legal battles between Spyker CEO Victor Muller and General Motors, the automaker from which Mullers company purchased the embattled Saab brand back in 2010. To refresh your memories, after struggling through 2011 and entering into bankruptcy, Spyker attempted to save the Saab brand by selling it to a Chinese consortium. General Motors, though, blocked the sale because it did not want any of its intellectual property, of which Saab was in possession of from its days under the GM umbrella, in the hands of a potential rival automaker. Spyker then sued GM for intentionally blocking what it said was Saabs only chance of survival. The $3-billion suit was dismissed after a judge ruled in favor of GM, which apparently had granted a license to Saab to continue building cars using its technologies, but reserved the right to cancel that agreement if Saab again changed hands. Spyker appealed, and, according to Reuters, the appeals court upheld the previous ruling, again siding with GM.National Electric Vehicle Sweden, the company that eventually purchased Saab out of bankruptcy, managed to restart production for a short period before itself falling into financial trouble. We have at least another month to wait before hearing how Saabs next chapter may read. GM wins appeal, dismissal of $3B Saab-related Spyker suit originally appeared on Autoblog on Sun, 26 Oct 2014 09:01:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Used-Cars.Co.Za
Posted on: Sun, 26 Oct 2014 13:29:09 +0000
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