De Lorean Objects to $191.8 Million in Bankruptcy Claims
DETROIT (AP) _ Auto entrepreneur John Z. De Lorean has filed objections to $191.8 million in claims against his failed car company in what he said was the beginning of a legal offensive.
The objections, filed Tuesday in U.S. Bankruptcy Court in Detroit, seek to eliminate claims from the British government, the French automaker Renault, and William Haddad, a former De Lorean Motor Co. executive, said Mayer Morganroth, De Lorean’s attorney.
All three have said De Lorean’s bankrupt company owes them money.
De Lorean countered by accusing the British government of not honoring its promise to fund his car operations in Northern Ireland.
The British government, the largest creditor in the De Lorean Motor Co. bankruptcy, used about $160 million in British tax money to build cars at a plant near Belfast.
The company went bankrupt in 1982 after producing sports cars for two years.
The objections are the first of many legal actions he plans, De Lorean said in an interview Tuesday. ″When all is said and done, I absolutely expect to prevail in all of these actions.″
Malcolm Schade, a New York lawyer for the British government, said neither he nor British officials could comment on De Lorean’s claims until they had read them.
Haddad, now head of a Connecticut pharmaceutical firm, said the objections were ″not something you take seriously.″
The Associated Press sought comment today from Renault through Renault U.S.A. in New York. The call was transferred to the office of the subsidiary’s president, Pierre Gazarian, whose secretary said he was not in.