Cars
The (digital) ink on our story about Saab North America's hopes and dreams had barely dried when news came in that a Swedish court denied Saab Automobile's voluntary reorganization application that would have protected the company from its creditors, which include the labor unions and parts suppliers.
- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- Court-appointed Administrator Wants Saab Restructuring Process Terminated
Less than 24 hours after General Motors stated once again, that it will veto any plan that includes a Chinese company acquiring a stake in Saab, the Swedish carmaker received more bad news. Guy Lofalk, the court-appointed administrator who oversees Saab’s...
- Swedish Court Allows Saab To Appeal Denial On Reorganization Plan
The drama involving Saab continues today on a more positive note for the company as a Swedish appeals court has granted the automaker the right to appeal a previous ruling from a lower court that had rejected the company's request for a voluntary...
- Saab Seeks Court Protection From Creditors, Formulates Reorganization Plan
The way events were unfolding these past few weeks, and from the moment its CEO admitted reorganization was an option, it was inevitable: Saab Automotive NV, which includes Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tolls AB,...
- Breaking: Saab Files For Bankruptcy, Aims To Be Independent
General Motors' loss-making Swedish subsidiary Saab filed for bankruptcy on Friday after it was cut loose by the American company as part of its deep restructuring plan. Under the Swedish law, the reorganization is a self-managed process headed by...
Cars
Swedish Court Rejects Saab's Reorganization Plan, is this the End?
The (digital) ink on our story about Saab North America's hopes and dreams had barely dried when news came in that a Swedish court denied Saab Automobile's voluntary reorganization application that would have protected the company from its creditors, which include the labor unions and parts suppliers.
Saab was trying to win some time and complete a deal with Chinese investors. However, the Vänersborg district court ruled that it could not see how the Swedish automaker could secure additional funding to continue its operations.
“It appears unclear if –and if so, when- the relevant Chinese authorities will approve the agreementsâ€, the court said.
Read more »- Saab Files For Bankruptcy After All Rescue Plans Fail, This Could Be The End
It is sad news for the automotive world to learn of the demise of a company. Unfortunately, Monday December 19, will mark the end of the road for Swedish carmaker Saab – and this time it looks like it is final. Earlier this morning, Swedish Automotive...
- Court-appointed Administrator Wants Saab Restructuring Process Terminated
Less than 24 hours after General Motors stated once again, that it will veto any plan that includes a Chinese company acquiring a stake in Saab, the Swedish carmaker received more bad news. Guy Lofalk, the court-appointed administrator who oversees Saab’s...
- Swedish Court Allows Saab To Appeal Denial On Reorganization Plan
The drama involving Saab continues today on a more positive note for the company as a Swedish appeals court has granted the automaker the right to appeal a previous ruling from a lower court that had rejected the company's request for a voluntary...
- Saab Seeks Court Protection From Creditors, Formulates Reorganization Plan
The way events were unfolding these past few weeks, and from the moment its CEO admitted reorganization was an option, it was inevitable: Saab Automotive NV, which includes Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tolls AB,...
- Breaking: Saab Files For Bankruptcy, Aims To Be Independent
General Motors' loss-making Swedish subsidiary Saab filed for bankruptcy on Friday after it was cut loose by the American company as part of its deep restructuring plan. Under the Swedish law, the reorganization is a self-managed process headed by...