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.

Monday, September 12, 2011

Labor unions Ledarna and Unionen to file for bankruptcy in Saab

Latest news from local Trollhättan newspaper TTELA is that the two labor unions Ledarna (the union of the managers with 131 Saab employees)  and Unionen (white-collar union with approx. 1,100 Saab employees) have decided to file for bankruptcy in Saab today.

"We have to do this to secure our members the compensation they are entitled to through the wage guarantee," says Chairman of Unionen Cecilia Fahlgren.

According to Cecilia Fahlgren of Unionen, the filing will be withdrawn if Saab is approved the reconstruction by the Court of Appeal or if the wages are paid.

"We are very sorry to being forced to do this. But the situation is intolerable and the limit for fairness has been crossed over," says general counsel Andreas Olsson at Ledarna.

The Vänersborg District Court has confirmed that they have received the bankruptcy filings. The court will take three to five weeks to rule on the bankruptcy filing.

This piece of bad news comes just two hours after Saab announced an agreement that will secure EUR 70 million in bridge funding.

All I can say is keep the faith. With EUR 70 million in the way it ain't over yet!

The bankruptcy filing from Unionen.

The bankruptcy filing from Ledarna (which the court has done a really bad job to anonymize).