The now bankrupt Swedish automaker Saab is being sued by BMW over unpaid deliveries for spare parts. In September 2010, BMW and Saab signed a purchase agreement regarding four-cylinder engines meant to be used in the 9-2 and 9-3 models. Same contract also covered spare parts and other components.
The lawsuit states that a large number of these spare parts were never paid for, as a result of Saab’s financial troubles that led to bankruptcy filling. The lawsuit contends that Saab Automobile Parts AB is liable for the unpaid deliveries, following Saab Automobile’s bankruptcy.
Lennart Stahl, Chief Executive of Saab Automobile Parts AB, denies the claim. “Saab Automobile Parts AB have not ordered or received any spare parts or components from BMW,” he said. “Why would a spare part company order components for a car model that’s not yet in production?”
Saab Automobile Parts AB continues to operate and is used as collateral by Saab Automobile AB in exchange for state-backed guarantees for its loans in the European Investment Bank.
Bankruptcy filled papers point to a $2 billion debt for Saab.
The story is developing and we will update it if BMW issues an official statement.[Source: FoxBusinessNews]