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.

Tuesday, September 6, 2011

Saab to file for reconstruction tomorrow?

Swedish local Trollhättan news online TTELA reports that according to Dagens Industri, Saab will probably file for reconstruction at the Vänersborg district court tomorrow. Guy Lofalk, the lawyer who handled Saab last reconstruction will most likely be appointed to lead this reconstruction also.

The hope is that the planned Chinese investments will be reason enough for the court to allow another reconstruction. When a company is in reconstruction the creditor can not file for bankruptcy in Saab and the reconstruction will therefore protect Saab. During a reconstruction the employees' wages are paid by the Swedish state. But there is no guarantee that a new reconstruction will be allowed by the court or that it is a success.

According to Swedish news agency TT, Saab would not comment on the latest news.