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Saab’ appeal for reconstruction approved

Monday, 19 September 2011
Saab Automobile appeal for previously rejected application for reconstruction has now been approved by the Court of Appeals. But the threat of bankruptcy still hangs on the hanging over the car builder.

It made clear that the fact that the Court of Appeal has given Saab the opportunity for its case to be reviewed does not mean that there will be an automatic approval fro the company’s reorganization

“It signals that this is not the end of the issue,” says Court of Appeals Peter Islander who was the rapporteur at the meeting. According to him, there will be more depth into the material.

The question is expected to be settled soon - about a few days.
“It takes longer to motivate and formulate a decision after a reconstruction application,” says Peter Islander.

Court of Appeal for Western Sweden, writes on its website that it has not given a concrete date that final decision on the issue of reconstruction should be started but it is expected to announce that within a few days.
By Scancomark.se Team

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