I went to the Saab Museum this morning to take a look at some recent additions. The recent additions are not vehicles, but little stickers applied to the vehicles that were already there.
Click to enlarge
Utmätt Gods translates to ‘goods sequestered for debt’ and the little stickers were applied to the collection by Kronofogden, the debt enforcement agency here in Sweden. As you can see above, the Aero-X has one. The Sonett and Saab 9-X Air both have one, too. Even UrSaab has one.
The labels were applied earlier this week, no doubt timed to precede our reorganisation decision. It’s Kronofogden’s way of claiming these vehicles as part of a group of assets earmarked for sale in order to pay debts that some of our creditors have asked Kronofogden to collect. I know that’s a shocking statement if you’re a Saab fan, but please relax and keep reading.
The decision yesterday to grant us reorganisation status means that no further action can be taken by Kronofogden right now, in respect of these vehicles. However, should our reorganisation fail, then the vehicles resume their place amongst the assets that Kronofogden would seek to liquidate in order to collect amounts owing to some creditors.
So, the vehicles are protected at the moment and of course, Saab will seek to repay all outstanding amounts (including those submitted to Kronofogden) and when that happens, the little stickers will be removed and so will any lien hanging over the vehicles.
It’s not a nice part of our current story, but it’s a part of it nonetheless and one that we will do everything to ensure is wound up with a happy ending, as soon as possible.