Saab administrator wants to end reconstruction

Economy | 2011-10-20

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Tags: Saab

The administrator Guy Lofalk have applied for the termination of Saab Automobile’s reorganization.

If the voluntary reorganization will be terminated is determined by Vänersborg District Court. It would mean that the resting bankruptcy claims against the company comes back into force.

The Swedish Enforcement Authority would also resume its recovery of the about SEK 1.4 billion of debts that Saab owes suppliers.

Saab is to contest the application and request for continuation of the voluntary reorganization process. Simultaneously, Saab Automobile is to apply at the court for replacement of Guy Lofalk, according to a press release.


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