Vänersborg District Court has just announced that it rejects Saab's filing for reconstruction.
According to the written ruling of the court, there are too much uncertainty in how and if Saab will solve both the short- and long-term funding, and if Saab will be able to restart production and also how much damage the Saab brand has taken. All in the all the court thinks that the conditions for Saab to succeed with a reconstruction is not present.
Saab can however appeal the decision of the District Court to the Court of Appeal for Western Sweden.
This means that at the moment Saab is not protected from bankruptcy and at least two of the labor unions at Saab have said that they will file for bankruptcy if the reconstrcution was not approved. Saab also wrote in the application that filing for bankruptcy may be an option the company itself will resort to.
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
