Spyker’s appeal against bankruptcy upheld

Spyker has been handed a lifeline after a court decision to declare the company bankrupt was overturned on appeal. In December the troubled Dutch manufacturer filed a voluntary petition for protection from its creditors while it "addressed short-term operational and liquidity challenges". Company chief Victor Muller expected to receive an injection of funding, but when this was not forthcoming, a Dutch local court appointed an administrator in charge of Spyker's affairs.

In the days following the bankruptcy ruling, the extra funding did arrive, and Spyker lodged its appeal against bankruptcy. The appeal was upheld, meaning Spyker is now in a 'temporary moratorium of payment', a procedure that allows a company to continue operating its business and managing its assets in the ordinary course of business while at the same time restructuring.

Muller expects his company to exit the temporary moratorium within a matter of weeks: "Following that exit we will forthwith pursue the execution of our plans which include the introduction of the Spyker B6 Venator, our entry-level luxury sports car which will give a larger audience access to the Spyker brand."

Muller also offered a hint at Spyker's future direction, saying the company was "seeking a merger with a US-based manufacturer of high performance electric aircraft." The company would seek to deploy the electric technology in "full electric Spyker cars in the foreseeable future"," claimed Muller.