Filed under: Government/Legal, Saab, Earnings/Financials
http://www.blogcdn.com/www.autoblog.com/media/2011/12/saab-emblem-200.jpgIt all comes down to this: Mr. Guy Lofalk, the administrator in charge of Saab’s reorganization for the Swedish government, has signaled his intent to apply for termination of the voluntary reorganization of the automaker.
That means Saab has five or six days, by its own estimation, to submit a successful plan to the Swedish District Court outlining how it will secure the necessary funding to stay in business.
Saab boss Victor Muller is reportedly seeking a loan worth over $800 million from proposed Chinese partner Youngman and an unnamed bank now that General Motors has squashed the previously planned alliance between Saab and its would-be Chinese saviors.Continue reading Application filed to terminate Saab reorganization, Muller goes for loan
Application filed to terminate Saab reorganization, Muller goes for loan originally appeared on Autoblog on Wed, 07 Dec 2011 13:15:00 EST. Please see our terms for use of feeds.
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