SPYKER AGREES TO GM's REQUEST FOR A 30-DAY EXTENSION OF THE DEADLINE TO RESPOND TO ITS COMPLAINT.
Zeewolde, the Netherlands, 24 August 2012
Spyker N.V. ( Spyker ) announces that it has agreed to General Motors Company's ( GM )request for a 30-day extension of the August 28 deadline to respond to the Complaint, which response is now due on September 28.
Spyker and Saab Automobile AB filed the Complaint on Monday, August 6, at 08.00 EST. The lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market. GM’s actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a result of GM's tortiously interfering with a transaction between Saab Automobile AB, Spyker and Chinese investor Youngman that would have permitted Saab Automobile AB to restructure and remain a solvent, going concern.
