RSS Report: GM granted 30-day extension on Spyker's Saab-related lawsuit

[Ringo64]

Filed under: Government/Legal, GM, Earnings/Financials, Spyker

General Motors has asked for more time to reply to the lawsuit brought by Spyker over the Saab affair, and Spyker has agreed to extend the deadline one month until September 28. A quick refresh: Spyker has accused GM of tortious interference in Saab's dealings with the Chinese investors that might have been able to save the company, and intentionally and unlawfully driving Saab into bankruptcy.

The Dutch sports car maker is seeking $3 billion in damages, that number being its putative valuation of Saab had it worked out a deal with Chinese investor Youngman. GM's position is still that the lawsuit has no merit. You'll find Spyker's press release about the extension below.

Continue reading GM granted 30-day extension on Spyker's Saab-related lawsuit

GM granted 30-day extension on Spyker's Saab-related lawsuit originally appeared on Autoblog on Mon, 27 Aug 2012 08:59:00 EST. Please see our terms for use of feeds.

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[markpetersonii]

I didn't even hear about this. That'll suck for GM if they lose. I don't see how this can really be valid though, how can Spyker sue GM over something that happened to Saab when GM had a stake in Saab and Spyker didn't own them yet?