Spyker To Merge With Volta Volar; Debt Free Now!

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Spyker, the Dutch carmaker declared bankruptcy in December last year. Now the company says that it has exited its payment moratorium and is now free of debt.

The company now prepares for merger with electric aircraft manufacturer Volta Volare.

After almost 8 months since entering into moratorium of payment on December 2nd, 2014, Spyker N.V. and its subsidiary Spyker Automobielen B.V. successfully exited moratorium on July 29th.

Victor R. Muller, the CEO of Spyker said, "We have gone through a very rough patch during the past year, going from moratorium in early December 2014 to being declared bankrupt on December 18th, subsequently filing an appeal of that decision, winning that appeal on January 22nd, 2015 and returning to moratorium as a consequence."

"After winning a long legal battle with just one creditor, we have now finally succeeded in exiting moratorium and we are back in business as a healthy, debt free enterprise. In the coming weeks we will finalize the agreements with investors which were held up for over two month by the protracted litigation."

"In summary, Spyker is back with a vengeance and we look forward to a bright future for the company I founded 15 years ago and which is now set to build sensationally elegant and classy (electric) motorcars and electric planes for decades to come," he added.

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Story first published: Friday, July 31, 2015, 15:54 [IST]
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