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.

Wednesday, September 7, 2011

Court decision on reconstruction expected today at 14:00 CET

Update: The court have said that there will be no decision reached today. The decision is expected tomorrow Thursday at 14:00 CET.

It is expected that the Vänersborg district court today at 14:00 CET will announce it's decision whether to approve or disapprove Saab's application to enter into reconstruction of the company.

If approved, the court will also appoint the administrator of the reconstruction. Saab has asked that lawyer Guy Lofalk is appointed.

In the reconstruction application, Saab writes that the company needs time in order to get the necessary permits and to finalize negotiations concerning funding. Saab's short-term debt was SEK 6.9 billion at the end of June. Of this SEK 2.3 billion was short-term debt to suppliers and SEK 1.7 billion was short-term debt to other companies in the group. In addition there were SEK 2.6 billion in long-term debt.