Spyker agrees to extend GM's response deadline in $3 billion lawsuit

By Caroline Salls

Pittsburgh, Aug. 24 - Spyker NV has agreed to General Motors Co.'s request for a 30-day extension of the Aug. 28 deadline to respond to a lawsuit filed Aug. 6 that seeks redress for allegedly unlawful actions GM took to avoid competition with Spyker 100% subsidiary Saab Automobile in the Chinese market, according to a Spyker news release.

GM's response to the complaint is now due on Sept. 28.

Spyker said GM's actions were directly intended to drive Saab Automobile into bankruptcy.

The company said the bankruptcy resulted from GM's tortious interference with a transaction between Saab Automobile, Spyker and Chinese investor Youngman that would have permitted Saab Automobile to restructure and remain a solvent, going concern.

Spyker said earlier this month that the monetary value of the lawsuit claim is $3 billion.

Saab is a Trollhattan, Sweden-based car manufacturer.

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