It was back on Dec. 18, 2014, that Spyker was officially declared bankrupt. CEO Victor Mueller said he was going to do everything possible to see to it that the company did not disappear. Looks like whatever he did worked, as the courts have reversed their decision and Spyker is officially back.
The ruling hasn’t just let Spyker go back into business, but completely overturns the original ruling. S0 technically, they were never out of business in the first place. Instead of running out of cash and ceasing to exist, things are now being viewed as just a temporary cash shortfall.
Spkyer had been counting on an infusion of cash that didn’t happen in time to beat the original bankruptcy ruling by the courts. The cash did come through a few days later, which is part of what caused the courts to reconsider their original ruling.
The company isn’t bankrupt, but it is still technically in the equivalent of Chapter 11 and had been working with its creditors to come up with terms to settle their debts even before the bankruptcy was announced.
They say they’ve made good progress and expect to be out of Chapter 11 within the next couple of weeks. Once those last details are worked out, it’s full steam ahead for the introduction of the Spyker B6 Venator.