The claim of $3 billion over Spyker is dismissed by General Motors
|   Tuesday, October 09, 2012
The case that was filed by the Saab's parent with the claim of $ 3 billion is dismissed by the General Motors on Friday that states intentionally the automaker in the U.S. has bankrupted the company of the Swedan by preventing the deal with an investor of the China.

In a reply to this, GM filed a case against the Saab in the U.S. district court. The company had made a statement that the automakers have the authorized permission of the law to allow the transaction of Saab with Zhejiang Youngman Lotus Automobile Co.
a china based company.

In a case filed by the GM, "the company has discarded to let the plaintiff come in with Youngman. However, without the approval of the GM, Saab has no permission to carry out the possible transaction.

"There is no sense in the case that was filled by the Spyker, parent of Saab," a statement from the GM regarding the lawsuit.
The manufacturing of products was stoped by Saab in May 2011 who is also known as a one of the best brand in Sweden as the brand was not able to make payment to the suppliers as well as the employees.

As per lawsuit by the Spyker, to remove the possible competitors from the market of China, GM wants to destroy the other sales from the region.
"As a compensatory for the harm we had, we want GM to pay an amount of $3 billion. Also we want GM to pay us an amount as interest and disciplinary harm as well as legal fees." Victor Muller chief executive of Spyker said in his statement.

Muller from several months has been working to get a rescue deal from the investors of the countries like Russia along with the Middle East as well as China.

Muller also said that the amount that was funded for the case is actually being given by unknown third party and the amount of the settlement will be shared with them.

When previously questioned regarding involvement in the law case, Yougman refused to make any of the comments. On the other hand Pang Da said that company is not involved in any such lawsuit.
Spyker said that in China, GM made a contract to work with SAIC Motor Corp Ltd at the end of the 2011. At the same time the company closed the deal with Pang Da as well as Youngman.

For the benefit of the company's shareholders, GM at the moment is not making any supply of the products and technology to Saab, told by the GM.
Saab is not using any of the technology of the GM and also developing the vehicles on their own policy. So the statement from the side of the GM that they are not going to Support the Bran is totally senseless, because the Saab will not call for their help. As per the document that was filed.
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