Spyker announces exit from bankruptcy

After almost eight months since entering into moratorium of payment on December 2^nd 2014, Spyker N.V. and its subsidiary Spyker Automobielen B.V. (collectively 'Spyker') successfully exited moratorium on July 29^th 2015. Since no creditor filed an appeal with the Dutch Supreme Court, the ruling of the Appeals Court of July 21^st, last became final, confirming an earlier decision of the District Court which had already ratified the proposed creditor settlement on May 13^th.

Victor R. Muller, Spyker's CEO 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 18^th, subsequently filing an appeal of that decision, winning that appeal on January 22^nd 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 finalise the agreements with investors which were held up for over two month by the protracted litigation. But true to our logo nulla tenaci invia est via (for the tenacious no road is impassable) we have persevered and we can now move on and pursue our ambitious goals including the merger with Portland, Oregon based electric aircraft manufacturer Volta Volare. 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.