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Saab re-organisation authority Guy Lofalk confirms Saab – Chinese affair

Friday, 28 October 2011
Saab Automobile's administrator withdraws his request for the reconstruction of the company. It comes from a press release from Vänersborgcourt that supposed to authorise the reorganisation of the ailing car maker.

According to Guy Lofalk defending the decision for the withdrawal, Chinese Pang Da and Youngman signed a so-called letter of intent to purchase all shares in Saab Automobile.
"The administrator, Guy Lofalk has today withdrawn the request for the reorganization of the company, "the district court noted in the press release.
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The observation made is that Guy Lofalk’s submission to the district court indicates he has reason that Saab has now agreed with Pang Da and Youngman. The agreement means that Pang Da and Youngman will acquire all shares in Saab Automobile, writes Lofalk.

The agreement also means that Pang Da and Youngman will contribute to the financing of reconstruction and financing of the business plan, he writes on.

That the parties have now agreed changes to the conditions for the reconstruction of the company, according to Lofalk. But the "New conditions must be investigated," he writes, according to Saab's regional importance and the large number of jobs involved.

The district court's press release also indicates that creditors' meeting planned for 31 October will be held as scheduled.

The district court would, on Friday afternoon legally authenticate any decide as to whether it is feasible for any reorganisation to really take place, after Guy Lofalk request a week ago that it would be discontinued.
By Scancomark.se Team

















































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