Work continues on Youngman deal and reorganisation in Stockholm

So you’ve seen the press release – Our administrator, Guy Lofalk, will file documents today, to end the reorganisation process that we’re currently involved in.

The District Court has registered Lofalk’s application, which has now been posted on their website.
Saab, as well as the creditors who were present at the creditors’ meeting and those included in the Creditors’ Committee, will have the opportunity to express their views before the District Court announces a decision. On their website, the Court writes that Saab’s deadline expires on December 15, at 1 pm. The District Court intends to issue a decision on the matter on December 16, at 2 pm.

Right now, intense negotiations continue with our Chinese investors in Stockholm, negotiations that are intended to strike an arrangement that will enable Saab to continue the reorganisation process and ultimately, continue operations into the future.

This decision from Mr Lofalk is not necessarily the end for Saab. He is under legal obligation to take to this step given the current situation as he sees it. However, that does not stop Swedish Automobile from seeking to put arrangements in place that can sustain Saab through a full reorganisation, and beyond. This is what we are seeking to do right now.

Saab will seek a continuation of the reorganisation process, with a new administrator appointed in Mr Lofalk’s place.

As always, we thank you for your continued support of Saab and we will keep you informed when we can.

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8 Comments

  1. thank you steven for your information,

    i´m absolutely shure, that victor muller ist doing everything to find a solution and in some days we will perhaps know, that this solution is better, than every version before.
    i believe in victor muller and his love to saab and his employees.

  2. OK. Right. I’m confused. If the reorganisation protects the salaries etc, then how can Lofalk terminate the reorganisation for non-payment of salaries or is he terminating it because he thinks there is no deal to be had? Also, if the reorganisation is terminated how can Saab get a loan to keep the reorganisation going and if the reorganisation lasts for three months, is that time not up now?

    My head hurts!

  3. Even Agatha Christie couldn’t have written such a thriller.
    It’s killing me, but must be hellish for those really involved and effected.

    Hang in there!

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