General Motors is in the clear regarding Spyker’s lawsuit on the American automaker.
The 6th U.S. Circuit Court of Appeals in Cincinnati has upheld the dismissal of a $3 billion lawsuit in which Spyker accused General Motors of interfering with its plan to sell Saab to a Chinese company. The federal appeals court said Spyker failed to show GM intentionally interfered with the company’s effort to sell the Swedish automaker to Zheijiang Youngman Lotus Automobile Co, which resulted in Saab’s bankruptcy.
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In 2010, GM sold its majority stake of Saab to Spyker and as part of the sale, the American automaker licensed Saab to build vehicles using GM’s intellectual property and retained a right to end the license if Saab was sold without its consent. The recent decision upheld a ruling from June 2013 by U.S. District Judge Gershwin Drain in Flint, Michigan.
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[Source: Reuters]
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