This is your daily news info about the current state of affairs of the ongoing saga that is the Svenska Aeroplan AktieBolaget restructuring story or, more accurately, your second Saab news story of the day.
In this latest chapter, Saab’s parent company Swedish Automobile NV [Swan] said that it is “in intense final negotiations” with investors in order to secure its financing and, thus, avoid bankruptcy.
A court document that was published on Thursday stated: “The final result of these negotiations, which can come more or less anytime, are conclusive for Saab’s ability to take a stance on the question that the court has asked Saab to comment on. Thus, Saab cannot, until the result is known, make any remarks.”
Guy Lofalk, the court-appointed administrator who oversees the Swedish carmaker’s restructuring process, believes that it will not succeed and, therefore, has proposed its termination.
“The money is not enough to continue the reorganization”, Lofalk told Reuters referring to the first installment of the Pang Da loan and the money North Street Capital equity fund will pay for obtaining Spyker .
The Vanersborg court will rule tomorrow, Friday October 28, on Lofalk’s request – so stay tuned for more Saab news…
