$3B Suit Says GM Forced Saab From China, Into Bankruptcy

Law360, New York (August 6, 2012, 3:21 PM EDT) -- Dutch car manufacturer Spyker NV on Monday launched a $3 billion lawsuit in Michigan federal court alleging General Motors Co. strong-armed Spyker's now-bankrupt subsidiary Saab Automobile AB out of the Chinese automobile market by interfering in a proposed buyout with Chinese investors. 

GM threatened to cut off crucial technology licensing deals if Spyker went ahead with a $141.9 million sale of Saab to the Chinese automakers Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co., dooming the proposed deal and necessitating Saab’s December bankruptcy...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.