GREAT NEWS - Spyker has been removed from bankruptcy, and will launch new B6 Venator soon.

Dutch supercar maker Spyker won its appeal against being placed in bankruptcy by a court late last year. Spyker CEO Victor Muller said he now intends to push ahead with development of the company's B6 Venator, an entry-level luxury sports car, and to merge with a U.S. based manufacturer of high performance electric aircraft.

Spyker has been struggling to survive financial setbacks since its ill-fated acquisition of Saab from General Motors in 2010.

Spyker was placed in bankruptcy on Dec. 18 by a Dutch court after bridging finance promised while it was under creditor protection failed to arrive. Spyker got the money 11 days later and appealed the court’s bankruptcy declaration.

A Dutch appeals court on Thursday declared the bankruptcy "null and void with retrospective effect." This puts the company back under the protection of the "moratorium of payment" – equivalent to U.S. Chapter 11 protection from its creditors.

Muller said that the company has now reached agreement with the majority of its creditors. As a result "we should see Spyker exit 'moratorium of payment' in a matter of weeks," he said in a statement.

Spyker hopes the B6 Venator, a mid-engined 375-hp V6 sports car unveiled at the 2013 Geneva auto show, will attract more customers. The model is intended to compete with such cars as the Porsche 911 and Lotus Evora.

When it was first revealed there were suggestions it would be priced around 160,000 euros. That is about 40,000 euro less than the 198,500-euro 2014 European list price of Spyker's 4.2-liter C8 Aileron sports car.

Muller is keen to pursue a merger with a U.S. based specialist aircraft manufacturer once Spyker comes out from the "moratorium of payment." The logic for this, according to Muller, is that "the exciting new sustainable and disruptive technologies" currently being developed by the as yet unnamed company will be of value in future "full electric" Spyker cars.

REPORT HERE

Spyker Supercar makers has been declared bankrupt.

Today the District Court of Midden-Nederland, at the request of the administrator, converted the moratorium of payment, granted to Spyker N.V. and its wholly owned subsidiaries Spyker Automobielen B.V. and Spyker Events & Branding B.V. (collectively “Spyker” or the “Company”) on December 2nd, last, to bankruptcy. The cause for this conversion was that the committed bridge funding did unfortunately not reach the company in time. The administrator will continue his work but now as receiver.

Victor R. Muller, Founder and Chief Executive Officer said: “None of the ambitions we had when we founded Spyker 15 years ago, has vanished as a result of today’s events. In 2000 we set out to establish a super sports car business from scratch with a global distribution and we achieved that. Over the years we undertook some daring ventures that left their marks on the company which in turn contributed to today’s demise.

However, I would like to make clear that as far as I am concerned “this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning” to quote Winston Churchill. I will relentlessly endeavour to resurrect Spyker as soon as practically possible and, assuming we will be successful, pursue our goal to merge with a high performance electric aircraft manufacturer and develop revolutionary electric Spykers with disruptive sustainable technology.

This is the moment to express my gratitude to our customers, dealers, suppliers and of course our employees and Board. Their loyalty and support was vital to build the brand over the past decade and a half. They can count on us continuing to live by the Spyker axiom “Nulla Tenaci Invia est Via” (Latin for “For the tenacious no road is impassible”).”