That Mr. Muller turned to the Chinese market to find new investors and secure additional funding was no surprise to GM,
particularly in light of the fact that, just a few weeks prior, Mr. Girsky had introduced Mr. Muller to David Xu for this very purpose.
For example, on April 21, 2011, in connection with Mr. Muller’s efforts to secure immediate liquidity, he informed GM, through Mr. Girsky, that “[b]ased on the current property transaction which has already been cleared by the [National Debt Office] and is only subject to
[European Investment Bank] approval, we will have an inflow of euro 30M of fresh cash from [another European investor] who is funding the sale and lease back plus euro 29M from a regular [European Investment Bank] drawdown.
Youngman will pay euro 10M within 2 weeks as a
down payment on a total of euro 111M of new shares and 20M as a deposit on product. With that inflow we can start up production and resume activities.”
As detailed below, from this point through its bankruptcy filing in December 2011, Saab was close to reaching various deals to secure financing or restructure the company.
GM created the appearance of initially encouraging Saab to enter into a deal with Chinese investors to save the company, only later to unlawfully pull the rug out from under Saab, driving it into bankruptcy liquidation. Indeed, it was GM’s intent by whatever means necessary to quash
any financing or investment deal that could save Saab from liquidation, because GM simply sought to eliminate Saab from competition, particularly in the Chinese automobile market.
Hoe zeggen jullie dat, eerst een worst voor houden? To the Chinese market.