Tis the season to be jolly nervous….. The Examiner is posing some Dear Santa questions from various stakeholders in the car industry: Saab Owners: A glimmer of hope for the future of their beloved, quirky sport sedan. Actually, I think most people are wishing for a future hatchback, but that aside…. Yes, people are indeed looking for hope for Saab […]
News from the front office in Trollhattan: — Saab confirms that the first payment of the funding, which was promised by Youngman, now has been transferred to Saab’s account. The efforts to secure the remaining funding, needed to pay salaries and continue the voluntary reorganization, continue and the work is moving progressively forward. —
Zeewolde, The Netherlands, 7 December 2011 – Swedish Automobile N.V. (Swan) announces it has been informed that the administrator of the reorganization, Mr.< Guy Lofalk, will apply for termination of the voluntary reorganization of Saab Automobile AB (Saab Automobile) and two subsidiaries with the District Court in Vänersborg, Sweden. Saab Automobile and its creditors have approximately five to six days
Re-posted As the day in question is tomorrow and there are still a few headlines going around about this, I thought it wise to bring it back to the top of the page. —— Despite the sound of the headline, this is not a press release. The purpose of this posting is two-fold: to talk of the delay in the
Saab delay submission to creditors in order to continue negotiations Read Post »
The following plan was submitted to the Vanersborg District Court today as the background material for presentation to the Creditors Meeting. It makes for some very interesting reading in all respects, both as a brief historical document (as in…. how did Saab get here?) and as a guide for the future. If you’re into following what Saab do, or plan
UPDATE: The following press release has just been issued. District Court APPROVE REORGANIZATION Voluntary Continuation Zeewolde, The Netherlands, 31 October 2011 – Swedish Automobile NV (Swan) announces that the District Court in Vanersborg approve the continuation of the voluntary reorganization of Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB following the creditors meeting
Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (together Saab Automobile) today present their preliminary reorganization plan to their creditors during a creditors’ meeting in Vänersborg, Sweden. The preliminary reorganization plan, which was developed by Saab Automobile management and supported by the current and foreseen
Press Release: Information On Restructuring Plan for Saab Automobile Read Post »
Earlier today I wrote an article here at Inside Saab that may have left the impression that a vote would be taken at the creditors meeting underway today at the district court in Vanersborg. That impression would be incorrect. I’ve received some information internally that spells out the following, which should help those interested in the process Saab is currently
Zeewolde, The Netherlands, 21 October 2011 – Swedish Automobile N.V. (Swan) confirms that a new offer, constituting a direct purchase of the shares of Saab Automobile AB and Saab Great Britain Ltd, was made by Pang Da and Youngman. The parties made the offer during discussions with Swan, referring to changed circumstances since July 2011 when the subscription agreement was
Press Release: ONGOING DISCUSSIONS WITH PANG DA AND YOUNGMAN Read Post »
A few pieces from the web that I think people should check out as they try to digest the news from today…….. Firstly, there’s an interview with Saab CEO Victor Muller on Radio P4 West, from Sweden. It’s in English. Lyssna: Saabs vd, Victor Muller, om företagets situation —— From the observer/enthusiast point of view, Life with Saab has summarised
Trollhättan, Sweden: Management of Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) confirm that the reorganization is progressing and that a first payment by Youngman under the bridge loan funding commitment as announced on September 12 was received by Saab Automobile. Further payments under the amended and final bridge loan agreements signed between Youngman and Saab Automobile are
