Victor Muller has had the bankruptcy of Spyker overturned by Dutch courts just a month after Spyker was declared bankrupt. And the B6 Venator is back on.
Spyker NOt Bankrupt – B6 Venator back on
Just before Christmas we revealed that Spyker had been declared bankrupt despite the best efforts of Victor Muller, a man whose Houdini-like ability to escape from financial scrapes and persuade investors to share his dream had kept Spyker afloat through dramas that would have sunk almost anyone else.
The ruling by the Dutch courts – after Muller managed to get bridging funding in soon after the bankruptcy hearing – means Spyker returns to the Dutch equivalent of the US’s Chapter 11 protection from creditors.
That means Spyker’s plans to produce the promising B6 Venator are back on, as are plans to merge with an American manufacturer of high performance electric aircraft with plans to use their technology to develop electric Spykers.
Victor Muller said:
On December 18th, last, 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 endeavour to resurrect Spyker as soon as practically possible.
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.
It’s a typically bullish statement from Muller as he emerges from Spyker’s bankruptcy full of how successful Spyker will become.
We hope he’s right – the car world would be a much duller place without Muller’s escapades.
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