Spyker sues GM for $3bn for 'deliberately bankrupting' Saab
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Carmaker Saab has reportedly sued former partner General Motors for three billion dollars, accusing the U.S. auto maker of deliberately bankrupting the Swedish group by blocking a deal with a Chinese investor.
Saab had been in takeover talks with a Chinese firm and filed for bankruptcy in December when those talks failed.
GM, which owned part of Saab, did not want Chinese carmakers accessing Saab's technology licences.
Dutch sports car maker Spyker has now filed its lawsuit in a US court on behalf of its subsidiary Saab, the BBC reports.
"GM's actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a result of GM's tortiously 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 said.
Meanwhile, GM has rejected Spyker's claims, calling the allegations 'baseless'.
"We have reviewed the complaint, and it is completely without merit. We will vigorously defend the company," the firm said. (ANI)
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