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.

Friday, November 25, 2011

No Saab wages before weekend, Antonov out on bail

Saab now says that it will not be able to pay its employees the wages before this weekend. Saab's Executive Director Human Resources Johan Formgren says that the company has no further news about the wages. Let's hope something good can happen during the weekend.

Aftonbladet reports that in London Vladimir Antonov has stood before the Westminster Magistrates' Court. As reported earlier, his banks in Lithuania and Latvia has collapsed and there are suspicions of fraud. Lithuania has asked that he is extradited. The English court has decided that these proceedings will take place in December. In the meantime, the court has decided that he can be let out on bail.

In a text message to TTELA, Saab's CEO and Chairman Victor Muller, writes that the only connection between Swedish Automobile and Saab and Antonov's banks is a EUR 72 million loan given from Antonov's banks to Victor Muller's company Tenaci in February 2010. This money was used by Tenaci to buy Saab.

That's the wrap up of today. Unless something big happens.