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.

Thursday, September 22, 2011

Saab museum car collection saved by the bell

When the Court of Appeal allowed Saab to enter reconstruction yesterday, it do not just secure the employees the wages and Saab time to sort out the financial worries.

Now Dagens Industri reports that the Swedish Debt Enforcement Agency had already been at the Saab car museum preparing to collect assets that could be sold to cover debt. And at the museum the Debt Enforcement Agency found approx. 100 cars, 22 engines and other exhibition objects valued to SEK 5 million. But then the court allowed a reconstruction and the work of the Debt Enforcement Agency was stopped. If Saab does not go through a successful reconstruction and can secure enough funds to pay its suppliers, these cars can still end up being sold. The Debt Enforcement agency has so far received 136 collection claims that totals SEK 216.6 million. But so far all these claims have been stopped due to the reconstruction. Thank God!