Dutch car builder Spyker on Thursday said it will appeal the dismissal of its $3.0 billion claim in a US court against General Motors, which Spyker accuses of deliberately bankrupting Sweden's Saab in 2011.
A US court has dismissed a $3 billion lawsuit by previous Saab owner Spyker alleging that US auto giant General Motors (GM) was responsible for causing the Swedish carmaker's bankruptcy.
US carmaker 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 $3 billion in damages.
Dutch car-maker Spyker said Monday it has filed a three-billion-dollar claim in a US court against General Motors, whose actions it said lead directly to Swedish Saab's bankruptcy last year.
Saab enthusiasts have confirmed that they have collected the funds required to purchase the last Saab 9-3 manufactured in the now defunct Saab factory in Trollhättan in western Sweden.
The North American unit of bankrupt Swedish automaker Saab will try to avoid going into bankruptcy itself to keep up warranties for recent car buyers and support dealers left with inventory, a company official said Wednesday.
Swedish automaker Saab Automobile has applied for bankruptcy protection as it continues to battle mounting debts, according to a press release from owners Swedish Automobile.
Saab CEO and sole director, Victor Muller, will meet Wednesday with representatives of the four unions at its factory in Trollhättan in western Sweden, who are seeking answers as to how the company will ensure that wages are paid.
The European Investment Bank on Thursday confirmed a loan to Swedish carmaker Saab was approved on condition Russian businessman Vladimir Antonov did not take over, a report said.
Saab's owner Swedish Automobile announced Wednesday it had secured more short-term funding with a 25-million-euro ($36-million) loan and that it has started paying out staff's salaries for June.
Disgruntled foreign suppliers could prove the stumbling block for disaster-riddled cash strapped Swedish automaker Saab, according to a European association for suppliers.
Troubled Swedish carmaker Saab said Monday it had hammered out the details of a deal to obtain last-ditch rescue funding from Chinese distributor Pang Da Automobile and that a second Chinese company had agreed to join their joint venture.
After seven-weeks of silence, the assembly lines at Saab Automobile's factory in Trollhättan in western Sweden rumbled to life again on Friday thanks to help from new Chinese partner Pang Da.
The future of Swedish car maker Saab was thrown back into doubt without a way into the crucial Chinese market, after a funding deal for the Saab-Spyker group fell through on Thursday.
Swedish Prime Minister Fredrik Reinfeldt said Thursday he was worried about the failure of Chinese rescue funding for the Saab-Spyker auto group but stressed the state would not step in to rescue the cash-strapped brand.
Chinese rescue funding for the Saab-Spyker auto group collapsed on Thursday throwing Swedish Saab back into deep financial crisis without keys to the crucial Chinese market.
Saab's new partner Hawtai on Friday defended itself against claims reportedly made by a top Swedish diplomat that raised doubts about the Chinese automaker's ability to salvage the Swedish car brand.
Saab's new partner Hawtai has inflated its production figures and changed chief executives numerous times over the past years, the Swedish embassy in Beijing warned in an internal report quoted by a Swedish daily on Thursday.
There are still uncertainties regarding new financing arrangements for cash-strapped Swedish carmaker Saab despite Tuesday’s announcement of a 'strategic partnership' with Chinese Hawtai Motor Group.
Saab has entered into a "strategic partnership" with Chinese Hawtai Motor Group, who plan to invest billions of kronor into the Swedish firm, it was announced on Tuesday.
Production at Swedish car maker Saab is set to resume within a week after the firm secured a deal for a €30 million ($45 million) cash injection on Monday evening.
Saab Automobile owner Spyker Cars reported a net loss of €76.3 million ($113 million) for the first quarter, but sales of the iconic Swedish brand shows signs of upward swing.
