Volkswagen and Suzuki Court Decision Won’t Come Until 2013

Volkswagen and Suzuki Court Decision Won’t Come Until 2013

The ongoing saga between Volkswagen and Suzuki may last a bit longer. The German automaker is facing arbitration brought by the Japanese automaker to end their partnership, and VW said that the London court handling the proceedings won’t reach a decision before next year.

The break up has been a rough one when back in November of 2011 Volkswagen refused to let go of 19.9-percent of Suzuki’s shares. VW in its annual report published that it “considers the claims to be unfounded and has itself filed counterclaims.” The arbitration process began on November 24th, 2011 at an international court in London by Suzuki. Both companies have been pointing fingers at one another of breaching their cooperation agreement.

Suzuki has no plans on backing down either, as Executive Vice President Yasuhito Harayama said last November that they’re prepared for the arbitration process to take as long as two years to wrap up. Imagine having to wait two years to go through a divorce. Yeesh.

[Source: Bloomberg]


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