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  1. #11
    Frank
    Administrator nordwulf's Avatar
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    And Spyker opposes GM's dismissal.. I imagine this lawsuit can drag on for a while.

    From Reuters:

    Saab owner Spyker to oppose GM's motion to dismiss lawsuit

    Dutch sportscar maker Spyker NV (SPYKR.AS), which is suing General Motors Co (GM.N) for more than $3 billion on behalf of its subsidiary Saab, said on Monday it will oppose the U.S. automaker's motion to dismiss the case.

    GM on Friday dismissed claims that it deliberately bankrupted the Swedish company by blocking a deal with a Chinese investor.

    "Spyker and Saab Automobile shall oppose the said Motion to Dismiss on November 9th, 2012, assuming the Court grants an extension to which GM has agreed," Spyker said in a statement.

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  2. #12
    Frank
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    Official press release from Spyker today:

    GENERAL MOTORS FILES MOTION TO DISMISS IN RESPONSE TO SPYKER/SAAB AUTOMOBILE COMPLAINT

    Zeewolde, the Netherlands, 1 October 2012 -- Spyker N.V. ( Spyker ) announces General Motors Company ( GM ) filed a Motion to Dismiss on September 28th,last, in response to Spyker/Saab Automobile's Complaint dated August 6th, 2012. Spyker and Saab Automobile AB shall oppose the said Motion to Dismiss on November 9th, 2012, assuming the Court grants an extension to which GM has agreed.

    Spyker and Saab Automobile AB filed a complaint on August 6th, last with the U.S. District Court, Eastern District of Michigan (the¬ Complaint ), seeking redress for GM's tortuous interference with a transaction between Saab Automobile AB, Spyker and Chinese investor Youngman. GM's tortious interference drove Saab Automobile into bankruptcy in December 2011.

    On September 28, 2012, GM filed a Motion to Dismiss in response to the Complaint.

    GM argues ,among others, that under Swedish law, which according to GM should apply, there is no cause for action for a "purely financial loss due to tortious interference, absent an allegation of criminal conduct. However, GM argues, the Complaint should also fail in case New York law or Michigan law would apply. As to the substance of the argument, GM argues that, under the Vehicle Supply Agreement ( VSA ) and the Automotive Technology License Agreement ( ATLA ), GM had a contractual right to terminate the VSA and ATLA in case of a change of control in Saab. After its investment Youngman would have controlled more than 20% of Saab, which would have caused a¬ change of control.

    It goes without saying that Spyker and Saab Automobile will oppose the Motion to Dismiss, such opposition being due on November 9th, 2012, assuming the Court grants an extension to which GM has agreed.

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  3. #13
    Frank
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    Court sets date for oral argument in GM/Spyker/Saab case

    Press release from Spyker yesterday:

    COURT SETS DATE FOR ORAL ARGUMENT IN GM CASE

    Zeewolde, the Netherlands, 6 December 2012 -- Spyker N.V. ("Spyker") announces that the United States District Court Eastern District of Michigan (the "Court") has issued a Notice to General Motors Company ("GM"), Spyker and its subsidiary Saab Automobile AB to appear for oral argument on GM's Motion to Dismiss. The hearing is scheduled for February 19, 2013.

    On 6 August 2012 Spyker in its own right and on behalf of its 100% subsidiary Saab Automobile AB ("Saab Automobile") filed a 3 USD billion complaint against GM in the Court (the 'Complaint').

    In response GM filed a Motion to Dismiss on 28 September 2012, in which GM asserted that an agreement (the so-called "Framework Agreement"), which Spyker, Saab Automobile and Zhejiang Youngman Lotus Automobile Co., Ltd. ("Youngman") had drafted, would cause a change of control of Saab Automobile or would cause transfer of GM proprietary automotive
    technology to Youngman.

    In its opposition filed Friday 9 November, 2012 Spyker substantiates its argument that the carefully crafted Framework Agreement would -contrary to GM's knowingly false media statements at the time- neither have triggered a change of control of Saab Automobile (therefore not requiring GM's consent) nor would have caused a transfer of GM proprietary automotive technology (the 'Opposition'). On the contrary, the Framework Agreement would have provided Saab Automobile with a necessary, immediate infusion of cash, which would have permitted it to successfully reorganize WITHOUT Youngman taking any stakein Saab Automobile. Moreover GM's technology was completely firewalled and Youngman would have had NO access thereto in any way. In the Opposition Spyker further substantiates that a long course of dealings made clear that GM under no circumstances would accept a competitor in the Chinese market.

    GM's assertion that Spyker and Saab Automobile have failed to state a cause of action is predicated upon GM's misapplication of relevant law, misinterpretation of certain contracts and disregard of key factual allegations in the Complaint. Accordingly, Spyker and Saab Automobile are of the opinion that the Court should deny GM's Motion to Dismiss.

    As a consequence of GM's tortious interference, Saab Automobile was forced to enter into liquidation on December 19th, 2011.

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  4. #14
    Mike
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    I believe things are only starting to get interesting.

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  5. #15
    Saab Enthusiast #1SAAB12-17-11's Avatar
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    So they're meeting in February to make their respective arguments to the court whether Spyker's lawsuit against GM has enough legal merit for the court to deny GM's move to dismiss the lawsuit? Any victory Spyker might hope to win over GM is going to take a long, long time. GM can't build a quality car but they've got plenty of lawyers.

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  6. #16
    Frank
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    So.... 2 years later and the court rules in favor of GM. Well, that comes as a surprise...! Spyker could have used the money because the comapny is near its end as well.

    From Reuters:

    General Motors Co (GM.N) persuaded a federal appeals court to uphold the dismissal of a $3 billion lawsuit in which Spyker NV (SPYKF.PK) accused it of derailing a plan to sell the Swedish automaker Saab to a Chinese company.

    The 6th U.S. Circuit Court of Appeals in Cincinnati on Friday said Spyker failed to show GM intentionally interfered with the Dutch company's effort to sell Saab to Zhejiang Youngman Lotus Automobile Co, leading to Saab's bankruptcy.

    Read more: U.S. appeals court rules for GM over Spyker's Saab sale | Reuters

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  7. #17
    Saab Addict
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    Let's keep in mind that Victor himself, had issues and turned himself in instead of being arrested like Kristina Geers and Ake as well as his questionable acceptance of the cash to buy Saab from the fellow who is currently seeking refuge in London for the theft of millions, part of the complaint indicated that the money to buy Saab was part of the scheme. It will be a long, long time before (if ever), any light is ever shed on the demise of Saab under Muller. Even the UK Top Gear show blamed part of Saab's troubles on Saab itself. It sure hurts and I've had a Saab since 1984 but, look at the massive changes in the industry ownership and demise of once stalwart companies; who would have guessed that Rover and Jaguar would be owned by Indian corporations or Saab by China. Saab on the other hand didn't seem to put up much of a fight to beat out Opel did they?

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    Semper ubi sububi in caput tuum

  8. #18
    Frank
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    It doesn't look too good for Spyker. The latest from Zeewolde is they haven't paid the rent on the building for several months now and the building owner is taking them to court. A subsiduary Spyker Events and Branding, which was used for their Formula 1 team, requested protection from creditors which also means there is no money left and they can't pay the bills.

    Visitors to the Spyker factory report it is remarkably empty and quiet and some parts and cars have been moved to other locations just in case.. Earlier this year, they prevented parts and other stuff being auctioned at the last minute because they were behind with tax bills.

    Perhaps some day Mr. Muller will write his autobiography which should ve quite interesting.

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  9. #19
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    Moving materials to avoid creditors or the tax man, no matter how much we dislike "him" is pretty shaky. I don't look at things of this nature as "victimless crimes" but as a few dollars added to my tax burden. I live in a very corrupt state and the taxes on my home with little services are the price of a .. well, $15,000 and much of it is the result of corruption it's at the point where in retirement another straw on this camels back ... Leona Helmsley, the NY real estate mogul openly quoted said "taxes? I don't pay taxes, taxes are for little people".

    One comment about GM during those times of saber rattling and threats, they sure did maintain a stoic silence despite the accusations being hurled.

    Darn, every time I see Wulf's new "avatar" I get that "Happy Wanderer" tune whistling through my head ...

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    Last edited by tunnanxwd; 30 October 2014 at 15:22.
    Semper ubi sububi in caput tuum

 

 

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