Tag Archives: Vänersborgs District Court

Saab Automobile AB’s CEO, Jan Åke Jonsson, Says Buyer For Saab Should Be Clear By Next Week

Posted on 20. May, 2009 by .

0

Sweden’s SVT has indicated that Saab Automobile AB’s CEO, Jan Ã…ke Jonsson, Says Buyer For Saab Should Be Clear By Next Week from their understanding from reading the court documents.

Saab Automobile submitted on Tuesday a request to Vänersborgs District Court for the reconstruction extended by three months.

The application writes CEO Jan Ã…ke Jonsson to a buyer for Saab should be clear by next week. Negotiations are ongoing with three unnamed stakeholders.

Before the Court decides on the reconstruction may continue to be the creditors to leave comments. Probably the one weeks on.

According to Jonsson goes everything according to plan, but more time is needed.

Continue Reading

Prospective Buyers Tour Saab Automobile Facilities

Posted on 17. Apr, 2009 by .

0

facilities.jpg

Photo Credit: Saab Automobile AB

Sweden’s “The Local” confirms reports that the prospective buyers for Saab Automobile are still visiting the facilities in Trollhättan, Sweden at this time.

It is unclear if all the 27 that have signed the confidentiality agreements with Deutche Bank who are managing this process along with the reconstruction team, are touring the facilities.

Here’s the piece from the local.

Suitors tour Saab headquarters

Buyers interested in purchasing in beleaguered Saab Automobile have been visiting the company’s main base of operations this week to get more information about its factories, organization, and business plan.

According to Saab spokesperson Gunilla Gustavs, a total of 27 potential suitors have signed confidentiality agreements indicating they are serious about making a bid for the Swedish automaker, which is currently undergoing a court-ordered restructuring.

“There may be more. Several are Swedish, but most of them are international. A number have ties to the auto industry. Others belong to other sectors, such as finance and investment companies,” Gustavs said to the TT news agency.

Saab CEO Jan Ã…ke Jonsson is meeting with potential buyers this week at the company’s Trollhättan headquarters in western Sweden and in the coming weeks will also receive representatives from Deutsche Bank, which Saab has hired to manage the sale process.

Plans for US owners General Motors (GM) to complete the sale of Saab in June remain on schedule. Saab currently has until May 20th to complete the restructuring process, but has already indicated that it may request an extension from the Vänersborgs District Court.

Continue Reading

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

Posted on 31. Mar, 2009 by .

0

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.

Continue Reading




Production Concept