Spyker Wins Bankruptcy Appeal and Receives Bridge Funding

Spyker B6 Venator Concept

Spyker has had some serious financial ups and downs in its lifetime, but in the past year, or so, things have been particularly unpredictable. In early-December 2014, the company had hit a low point and filed for a moratorium of payment (similar to the chapter 11 bankruptcy here in the U.S.), and it was granted said protection as it awaited bridge funding. Unfortunately, the bridge funding was delayed and the courts converted the moratorium of payment into a bankruptcy, which put the company at serious risk.

Fast-forward to today, and the company has received the bridge funding it was expecting and won an appeal to convert the bankruptcy back to a moratorium of payment. What’s more, this conversion is retroactive, so according to legal documents, Spyker was never bankrupt in the first place.

With this bridge funding, Spyker plans to be out of its moratorium of payment status “in a matter of weeks.” Additionally, the brand plans to restart its B6 Ventor – an entry-level sports car — venture and it plans to pursue merging with a U.S.-based manufacturer of electric aircraft that will hopefully spawn all-electric Spyker cars in the future.

Those are all lofty goals for now, as it has been a little over a month since the bankruptcy was lifted and I haven’t received any updates on the its status. I hope that the company can pull out of this, as it certainly has some great ideas and lots of ambition, but I have my doubts. Stay tuned for more details.