Tag Archives: Lawyer

Saab Automobile To Make Official Announcement Of Sale Next Week According to Saab’s Lawyer, Guy Lofalk

Posted on 13. Jun, 2009 by .

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Saab Automobile AB’s lawyer on reconstruction, Guy Lofalk, promises more information on the sale of Saab Automobile next week according to Sweden’s SVT.

It’s looking like I finally received an answer to my question to the much awaited and finally anticipated public acknowledgment of Saab Automobile’s buyer & investor for their new era

Next week will be quite the week, I am sure!

Here is the brief post by SVT below:

Lawyer Guy Lofalk, leading Saab reorganization, promises more information on the sale of Saab Automobile next week. He does not want to confirm that General Motors

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Guy Lofalk Interviewed On Saab Automobile Prospects

Posted on 29. Apr, 2009 by .

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Photo Credit: Henrik Montgomery, Adam Ihse/Scanpix. Montage: E24

Sweden’s E24 have managed to interview Saab Automobile’s appointed lawyer, Guy Lofalk, check it out!

I have translated it for you below.

We have several processes, both the so-called “Carver out”, where we make ourselves independent from GM, the actual reconstruction and sales process run by Deutsche Bank.

In the beginning was 27 stakeholders sign a confidentiality agreement first, but only a dozen have come forward in the process, according to Guy Lofalk.

– It is a very strong and substantial interest from several potential buyers, so far so good, may I say in such a stage, “says Guy Lofalk.

Are they interested in parts or all of Saab Automobile?

– What is being discussed right now is to buy shares in Saab, to make a full equity, “says Guy Lofalk.

At the creditors’ meeting in early April did Guy Lofalk clear that the objective is to Saab to become an independent company that is expected to be sold in June.

– The plan can of course be revised, but it is currently fixed, “says Lofalk.

The rumors about who is interested in Saab are many. Recently data from the Gothenburg newspaper that one of the stakeholders is the Norwegian state. Although a Swedish non-named consortium has been identified as potential buyers as reported in Bloomberg News.

In addition, two investment companies as well.

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Maud Olofsson In D.C. To Discuss Saab Automobile With Ron Bloom At U.S. Treasury

Posted on 31. Mar, 2009 by .

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Photo Credit: Saab History

TTELA reports that Sweden’s Industry Minister Maud Olofsson, is in Washington, D.C. today to discuss Saab Automobile AB with Ron Bloom, of the U.S. Treasury Department.

I applaud Maud Olofsson for initiating this dialog with Mr. Bloom at the U.S. Treasury Department.

Published March 31, 2009 Updated March 31, 2009

Maud talking Saab in the U.S.

TROLLHÄTTAN On Monday will be Saab’s survival plan up to the evidence in Vänersborgs District Court.

And Industry Minister Maud Olofsson (C) is in Washington to talk about GM’s sale of Saab.

Industry Minister Maud Olofsson (C) is in Washington to talk about GM’s sale of Saab.

I wanted to assure them that Saab’s sales process may actually be completed, that if there are buyers who are interested, the harder this regard Obama talked about do not have the effect that it only closes down and does not consider that there is a sales process, “says Olofsson.

President Barack Obama on Monday made it clear to the American automobile industry that their actions so far are not enough. While he made clear that the automotive industry should not be allowed to go up in smoke, he was also very clear that funding by the taxpayer can not last very long.

GM was up to the end of May to develop a sustainable business plan.

Olofsson met on Tuesday, Ron Bloom, U.S. Treasury Department’s chief negotiator with the automotive industry. She stated to TT that she made it clear to Bloom that she hopes that the tightening of being had not “put obstacles in the way” for GM’s sale of Saab.

That GM was up to the end of May – is it good or bad for Saab process?

– It gives us these 60 days to continue working on a possible purchase of Saab, respond Olofsson.

For nearly six weeks, the Saab Automobile reorganization going on. A relief in the first months was to Saab lax wage in the state wage entered. County Administrative Board of Västra Götaland has SHELL OUT 217 million, including social security contributions.

Olofsson is aware of the risks in the event of a bankruptcy:

– There is a risk that wage goes to nothing and that we may pay the bill.

If reorganization is successful, it is money to be paid back.

On Monday, the creditors’ meeting held in the town hall in Vänersborg. Work on the reorganization plan has been made by a lawyer Guy Lofalk and Saab’s CEO Jan Ã…ke Jonsson.

The determination of the work may continue to have Vänersborgs District Court. Up to three judges to participate. Alderman Tisell Cecilia is one of them.

– There must be a fundamental business concept. The proposal must be serious and not unrealistic. It is important which creditors have comments, she said to TT.
If reconstruction is Saab which ends with their debts and it would then be few other ways than a bankruptcy.

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April 6th Marks Mid Review Of Reconstruction Process

Posted on 19. Mar, 2009 by .

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It has been recently indicated by Stephen Taylor and now confirmed to Saab History that April 6th, 2009 will be the date that the mid-review of the reconstruction process takes place.

The team that consists of Guy Lofalk, lawyer; Jan-Åke Jonsson, Saab’s managing director; Stephen J Taylor, an international reconstruction expert; and Martin Brindley, a specialist on the automotive industry, will hopefully be announcing some positive news where they stand at that point.

We know that Reconstruction is planned on taking until May 20th (3 months Feb 20th-May 20th), although some reports have now said July, which is strange.

April 6 is yet another decisive day for Saab. The preliminary reconstruction plan will be presented at a creditors’ meeting and it will be determined if the company may continue its reconstruction.

– “We see that as a milestone where we can talk in more detail which way we are heading,” says Stephen J Taylor.

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