The 6th U.S. Circuit Court of Appeals in Cincinnati on Friday said
Spyker failed to show GM intentionally interfered with the Dutch
company's effort to sell Saab to Zhejiang Youngman Lotus Automobile
Co, leading to Saab's bankruptcy.
GM had sold a majority of Saab to Spyker in 2010. As part of that
sale, it licensed Saab to build vehicles using the Detroit-based
automaker's intellectual property, and retained a right to end the
license if Saab were sold without its consent.
Spyker said it was in sale talks with Youngman in December 2011 when
a GM spokesman made statements suggesting that consent would not be
provided, and that a sale might hurt GM. Youngman said it decided to
back out "due to GM's position."
![](http://archives.lincolndailynews.com/2014/Oct/25/images/ads/current/charrons_bch041713.png)
Writing for a three-judge 6th Circuit panel, Circuit Judge Eugene
Siler said GM's statements were not malicious, and that it had
"legitimate business concerns" about the sale, including who would
benefit from Saab's use of its technology.
Siler also called Spyker's claim "fatally flawed" because it assumed
that GM misinterpreted the license agreement, meaning the
spokesman's statements "would have at most amounted to a mistake."
Friday's decision upheld a June 2013 ruling by U.S. District Judge
Gershwin Drain in Flint, Michigan.
A lawyer for Spyker declined to comment immediately.
[to top of second column] |
![](../images/ads/current/demay_inv-lda081412.png)
GM spokesman Alan Adler said in an emailed statement: "GM is very
pleased that both the district court and now the Court of Appeals
have determined that GM acted properly."
Saab's assets were bought out of bankruptcy in 2012 by China's
National Electric Vehicle Sweden.
NEVS stopped building cars in May because of a lack of money, and in
August won creditor protection in Sweden so it could seek new funds.
GM shares closed down 89 cents, or 2.9 percent, at $30.04 on Friday.
The case is Saab Automobile AB et al v. General Motors Co, 6th U.S.
Circuit Court of Appeals, No. 13-1899.
(Reporting by Jonathan Stempel in New York; Editing by Matthew Lewis
and Richard Chang)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](http://archives.lincolndailynews.com/2014/Oct/25/images/ads/current/business_directory_filler.png) |