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Spyker and SAAB looking for payback

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Late last year, Spyker, SAAB and General Motors (GM) were in a three-way grudge match looking out for each other’s interests.

You might remember that GM blocked a transaction that could have saved SAAB from bankruptcy. Midway through December of 2011, a Chinese manufacturer of automobiles called China Youngman Automobile Group Co., Ltd, was interested in purchasing SAAB which would have permitted it to restructure and remain a solvent entity.

Spyker, filing a lawsuit on behalf of its interests and those of what remains of SAAB, claims that GM purposefully impeded the transaction to protect its interests in the Chinese market.

The monetary value of the claim comes out to US$ 3 billion. As SAAB is broke, Spyker and a third-party investor are footing the bill for the suit. In exchange for Spyker’s generosity, they will keep a very substantial share of SAAB Automobile's award, should they win.