UPDATE 1-Spyker Cars says debts greater than assets

Newswire

(Adds Spyker comment) AMSTERDAM, Aug 25 (Reuters) - Niche Dutch luxury cars maker Spyker Cars , which bought Sweden's Saab from General Motors Co [GM.UL] earlier this year, said on Wednesday it has more liabilities than assets. Spyker said in a statement on its website the negative equity position as of June 30, 2010 reflects the IFRS requirement to treat the $326 million of redeemable preference shares issued to General Motors as part of the Saab acquisition as liabilities instead of ...

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