Early in August Spyker Cars NV, the former owner of Saab Automobile, filed a lawsuit claiming GM deliberately drove Saab into bankruptcy. Last night GM filed its respons to the court dismissing Spykers claim.
"The nub of plaintiffs' complaint is that GM declined to approve the transaction plaintiffs proposed to enter into with Youngman. But the relevant contracts did not permit Saab to consummate the proposed transaction without GM's approval," GM says in its respons.
In its lawsuit Spyker claims that GM had no right to say that it would not support the deal between Saab and the Chinese suitors as the technology which was to be shared between the partners where developed by Saab and was not GM's technology.
"Putting aside whether this argument is factually wrong, it misses the point. GM had the right to terminate its technology license and supply agreements with Saab if there was a change in control of Saab with GM's prior consent," GM says in its respons.
"This right was clear and absolute, and did not depend on how GM's technology purportedly was being handled," GM said.