The former owner of Swedish carmaker Saab
Automobile said Monday it had sued U.S. auto giant General Motors (GM)
for $3 billion for forcing Saab to file for bankruptcy.
In its complaint filed at a court in the US state of Michigan, Dutch car company Spyker said it was seeking "redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market."
Spyker took over Saab from GM in 2010, and said it was suing on behalf of Saab, citing that GM had blocked a deal between Saab, Spyker and Chinese investor Youngman that would have "permitted Saab Automobile to restructure and remain a solvent, going concern."
A Chinese-Japanese consortium announced in June that it had bought the estate of Saab and planned to focus on making electric vehicles.
The National Electric Vehicle Sweden (NEVS) has not disclosed what it paid for Saab.
The deal did not include intellectual property rights for the Saab 9-5, which are owned by GM, the buyer and court-appointed receivers said.
Most Popular Stories
- Pandora Tumbles in Late Trading
- Sporty Ford Fiesta Fires on All 3 Cylinders
- Stop-Start Engines Save Gas, Reduce Emissions
- World Tensions Don't Curb Enthusiasm for Stocks
- Russia Fears Lasting Damage From Ukraine Crisis
- Visa, Amazon Results Drag Down the Street
- U.K. Economy Surpasses Pre-Crisis Peak
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Shia LaBeouf Plea Deal, Alcoholism Treatment