Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Logo_Saab
- Credit: Picture: Wikimedia Commons/Will84321
Tuesday, 28 October 2014 - 13:20
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Judge denies Spyker's $3b claim against GM

The 6th Circuit Cour of Appeals in Cincinnati decided to uphold the dismissal of a 3 billion dollar lawsuit in which Spyker NV accused General Motors Co (GM) of derailing a plan to sell the Swedish automaker SAAB to a Chinese company. The court ruled on Friday that Spyker had failed to prove that GM intentionally interfered with their efforts to sell SAAB to Zhejiang Youngman Lotus Automobile Co, leading to SAAB's bankruptcy. Spyker bought SAAB from GM in 2010. As part of the sale, GM licensed SAAB to build vehicles using their intellectual property and retained the right to end the licence if SAAB was sold without their consent. According to Spyker, a spokesperson of GM made comments indicating that they would not give consent and that a sale might hurt GM while Spyker and Youngman were in sale talks in December 2011. Youngman decided to withdraw because of GM's position. Circuit Judge Eugene Siler ruled that GM's statements were not malicious. According to the judge it had "legitimate business concerns" about the sale. Friday's decision upheld the ruling made in June 2013.

Follow us:

Latest stories

  • Three Dutch universities in top 100 world ranking; Leiden drops to top 150
  • MH17 court ruling set for 17 Nov. as Russia reportedly detains MH17 defendant
  • Another passenger arrested for sharing pic of crashed plane, this time at Schiphol
  • Orientation periods start at many Dutch universities
  • Nature organizations also won't budge in nitrogen negotiations with Dutch gov't
  • Heat wave coming to a close with week of rain showers

Top stories

  • Young homeless people often can't find room in shelters
  • Netherlands lagging behind in purchase of coronavirus pill
  • Asylum seekers clash in Ter Apel; "A nasty situation," State Secretary says
  • Officially warmest August 14 since measurements began
  • NS on track for record year of delays, malfunctions; Plans underway for faster Airport Sprinter
  • Dutch publisher to reprint Rushdie's 'Satanic Verses'

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content