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Spyker Escapes Bankruptcy : News

Spyker, on Thursday, won its bankruptcy appeal filed on Dec. 29 with the Appeals Court of Leeuwarden in the Netherlands. This means, according to the company, “that by law Spyker was never bankrupt, and that the company has returned to the moratorium of payment status.”

In early December, Spyker was granted the moratorium on payments with hopes that a bridge loan would come in. When it didn’t, the court-appointed administrator filed a request to convert the moratorium to a bankruptcy. Shortly after, the bridge loan did come through, and Spyker filed the appeal.

“On Dec. 18, perhaps the blackest day in our 15-year history, I announced that as far as I was concerned, this was not the end and we would live up to our commitment to relentlessly endeavor to resurrect Spyker as soon as practically possible,” said Victor Muller, Spyker founder and CEO.

“But even I could not foresee at the time how quickly and unscathed Spyker would emerge from a situation which usually heralds the end of an era. The Appeals Court’s ruling has eradicated the bankruptcy and put Spyker back in ‘Chapter 11.’ Since we spent the time between lodging the appeal and today’s ruling to reach an agreement with the majority of our creditors, we should see Spyker exit moratorium of payment in a matter of weeks.”

That’s a rare bit of good news for the Dutch company, which still plans to introduce the B6 Venator, an entry-level sports car that will give more drivers access to the brand. Spyker also says it has partnered with a U.S. manufacturer of high-performance electric aircraft, whose technologies will find their way into future Spyker cars.

It feels like we’ve been following this Spyker story for a long time now, from its acquisition of Saab to its Youngman venture to its lawsuit against GM to bankruptcy. This is the car company that just will not go away. And we’re happy about that. Hopefully more steampunk-styled supercars will soon be on their way.

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Sources : Spyker C8 Photo | Spyker Article

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