Filed under: Government/Legal, Saab
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Seems that Saab just can’t catch a break. Yesterday, the Swedish automaker filed for government protection, citing that if approved, the company would undergo a voluntary reorganization. Now, a court has rejected Saab’s application for protection.
Saab plans to appeal the court’s decision. In a statement, the automaker said that it is “disappointed with the ruling.”
Automotive News reports that the Vanersborg district court in west Sweden released a statement regarding the Saab decision. Apparently, the court feels there is no reason to believe that a reconstruction would work.
Follow the jump for Saab’s official statement, and stay tuned for more details as they unfold.Continue reading Saab request for government protection rejected by Swedish court
Saab request for government protection rejected by Swedish court originally appeared on Autoblog on Thu, 08 Sep 2011 10:28:00 EST. Please see our terms for use of feeds.
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