Aston Martin Hit With $170M Lawsuit Over Valkyrie Hypercar | Carscoops carscoops
Cash-strapped Aston needed help to get the supercar project off the ground so in 2016 it turned to Andreas Baenziger and Florian Kamelger who operated a successful dealership selling the brand’s cars and had connections with some of Aston Martin’s wealthiest clients.that that the Swiss pair would provide funding for the Valkyrie, it’s Valhalla little brother, plus a third car, and were in exchange guaranteed royalty payments of 3 percent, which equated to around £150 m.
“The arbitration proceedings are at an early stage but the group is of the view that it can defend the claims brought by Nebula Project AG and assert valid counterclaims in the arbitration,” Aston said of the lawsuit in the prospectus for the company’s rights issue published last week. “At this stage it is not possible to assess the group’s potential total overall exposure.”
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