Less than 24 hours after General Motors stated once again, that it will veto any plan that includes a Chinese company acquiring a stake in Saab, the Swedish carmaker received more bad news.
Guy Lofalk, the court-appointed administrator who oversees Saab’s restructuring, announced that he will apply for a termination of the voluntary reorganization of Saab Automobile and its two subsidiaries with the Vanersborg District Court in Sweden.
Saab and its creditors must submit their views on the matter to the District Court within five to six days, at which point a decision about Lofalk’s proposal will be reached by the court.
On its behalf, Saab says that it continues discussions with Youngman about securing the necessary funds to pay its workers’ wages and continue the voluntary reorganization process.
“The management of Saab Automobile will consider future steps and continues the current discussions with Youngman about the necessary funding to pay the wages and be able to continue the voluntary reorganization,” the company said in a statement released today.
