Spyker a notorious late payer
Saab's new owner put at the highest possible risk for bankruptcy.
RELATED NEWS:
• Spyker's purchase of Saab finalised
Saab buyer Victor Muller and his company Spyker have serious debt issues, according to Swedish daily Dagens Nyheter. The company is a notorious late payer with lowest possible credit rating.
Credit bureau Dun & Bradstreet reports that Spyker rarely pays its bills when they are due. The company only paid 15 percent of invoices on time over the past two years.
D&B; puts Spyker at the highest possible risk for bankruptcy – 1 of 100 according to its internal scoring system. Similarly, Spyker’s creditworthiness is at the very bottom of the scale.
Other companies controlled by Victor Muller, among them Spyker Squadron and Maverix Capital, also show evidence of late payments and increasing debt. French company Nortene Jardin has sued Maverix Capital in a Dutch district court for non-payment of a 6 million SEK debt.
"It can take up to a year for the court to settle this matter", Muller’s attorney Chris de Bres told Dagens Nyheter.
Dutch sportscar maker Spyker said Tuesday it had finalised the purchase of Swedish carmaker Saab from General Motors.
Last Updated (Tuesday, 23 February 2010 17:19)
