GM rejects lawsuit by Spyker, Saab
- USA: Monday, October 01 - 2012 at 09:14
General Motors has denied any criminal wrongdoing in the bankruptcy of Swedish carmaker Saab, calling on US authorities to throw out a lawsuit filed by Dutch carmaker Spyker which is seeking $3bn in damages, the Associated Press has reported. Saab, a former GM subsidiary, filed for bankruptcy in December after teetering on the edge of the abyss for almost two years. The lawsuit, filed in early August, charges the US carmaker criminally interfered in an operation that could have made it possible for Saab to restructure and stay afloat, because the US automaker wanted to dominate the Chinese market. GM sold Saab to Spyker in 2010. "Spyker bought Saab knowing this financial history, and subject to terms spelled out unambiguously in the agreements attached to the complaint. Those agreements included clear contractual limitations on the future use of GM's technology, and on the transfer of that technology to others," the GM filing said.
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