| Contact Us | About UsAdvertisement | 
Weather Forecast


Saab Automobile finally sinks to request bankruptcy - reports
Monday, 12 December 2011
Saab Automobile's owner, the Dutch listed company Swedish Automobile NV, Swan, is expected, as reported by various Swedish news sources, to be filing for bankruptcy to the Vänersborg court, near Gothenburg.

Several mutually independent sources have confirmed to the Swedish business daily Dagens Industri that Swan will request bankruptcy on Saab automobile.


There is still no official confirmation from the company though but a source at Saab have come with conflicting information to the news agency TT and believe that there has been no decision about bankruptcy filing on Monday.

The news that the company itself calls for bankruptcy is somewhat surprising because Saab Automobile Chairman, and CEO Victor Muller told the media that bankruptcy is not an option.

But Dagens Industri reports that a source with good insight into the drama in the company that has lasted a long time said that - this is the type of thinking in the Saab  right now. “I would not be surprised if it receives news on Monday that the company submitted application to the district court. "

According to a source  to radio Sweden, Gothenburg, Saab Automobile's parent company Swedish Automobile right now is working with an application to seek bankruptcy of Saab automobile.
"We can not comment" , answers Saab's CIO Eric Geers to media snooping when asked if he could confirm or deny reports that the automaker will soon file a bankruptcy petition.

If Saab chooses to file a bankruptcy petition and therefore calls itself bankrupt it is expected that there would be a swift bankruptcy decision. The district court will examine the application on the same day, according to past information and media reports from insiders from Vänersborg.
By Scancomark.se Team

| Print Friendly and PDF| Write to the editor | Complaint about this article | Make a Comment |
Swedband to cut workers more than previously thought

What do you think about the above article? Please leave us a comment and reaction. Thank you.
  • Should be Empty: