Saab History Hears From Vänersborg, Sweden Court That Saab Automobile May File For Reconstruction Extension

Posted on 19. May, 2009 by Ryan in 2000-2009

Saab History has recently hears from the Vänersborg court in Sweden about Saab Automobile’s reconstruction process that ends on May 20th.

There has been unofficial speculation on the web, but this is official, so here we go, it looks like Saab Automobile may file for an extension for reconstruction.

The announcement should be on Tuesday, May 19th indicating that this will take place too.

No news yet. We’ve had indications that a demand for a prolongation will arrive tomorrow, Tuesday, but it might take until Wednesday. It would surprise us greatly if they don’t demand a prolongation. The alternative to a prolongation is a declaration of bancruptcy, and nothing in the official information given (of which we receive nothing above what you do) has hinted at that.

A prolongation can be given for a maximum of three months. The creditors that attended the creditor’s meeting in April will be asked their opinion before a prolongation is given. An updated reconstruction plan will be handed over; the press has talked about Saab possibly naming a potential buyer but again, we have no inside information on this.

www.domstol.se

Tags: Sweden, www.domstol.se