General Motors

General Motors Sued for Torpedoing Saab

Dutch sportscar maker puts a $3 billion dollar price on what it says was a deliberate effort to bankrupt the Swedish company


Dutch sportscar maker Spyker NV (SPYKR.AS) is suing General Motors Co (GM.N) for more than $3 billion on behalf of its subsidiary Saab, accusing the U.S. automaker of deliberately bankrupting the Swedish group by blocking a deal with a Chinese investor.

Saab Automobile, one of Sweden's best-known brands, stopped production in May 2011 when it could no longer pay suppliers and employees. It went bust in December, less than two years after GM sold it to Spyker. GM's efforts to kill any sale were made to eliminate a potential rival in China, Spyker said.