IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Friday, August 12, 2011

Debt enforcement agency to start looking for money in Saab next week

A couple of weeks ago we reported that Sweden's debt enforcement agency, Kronofogden, had examined 41 debt claims from Saab suppliers, of which eight companies wanted to proceed to the next level which is collection of the debt.

Now DI reports that the debt enforcement agency yesterday examined nine more claims, of which four have asked the enforment agency to proceed to the collection of the debt.

A total of 14 claims have proceeded to the collection stage so far.

But before the debt collection starts Saab has some time (three weeks?) to voluntary pay the debt. The first four claims are due on Tuesday next week. If they are not paid by that time, the enforcement agency can be asked by the four companies with claims to look into Saab's accounts and assets to look for money or other means of value. This kind of proceeding usually takes from one to three months.

On top of this, on Wednesday it was reported that one Spanish company, named Matrici S. Coop, and two German companies, all with big unpaid claims on Saab, are preparing for a bankruptcy filing of Saab.

But now the CEO of the Spanish company, Mr. Mikel Iraragorri, denies to Swedish TV4 News that they are filing for a bankruptcy in Saab.

There is no news about the two German companies. At the moment we don't even know who they are. But one can probably interpret the talks about bankruptcy filings as "threats" so that Saab will pay the debt or at least start a dialog with the suppliers.

And for the Spanish company it may have worked. The company is said to come to Sweden next week to meet with Saab.