The ongoing story that is the future of Saab looks set to have more episodes than The Young and the Restless – and the CBS TV soap opera has been running since 1973…
Guy Lofalk, the court-appointed administrator who oversaw the restructuring of Saab and last Tuesday proposed that the process be terminated, quit his post.
On Wednesday, Saab announced that another lawyer, Lars-Henrik Andersson, would assume his position. Just a day later it admitted that Andersson turned the position down and that Lars Soderqvist of Swedish law firm Hokerberg & Soderqvist would eventually be the new administrator.
Despite having received a reported US$5 million on Monday from Chinese company Youngman, which also promised that there is more cash to come before the end of the month, Saab’s future is currently uncertain.
The final outcome of Saab’s struggle to stay alive will probably be decided on Monday, when the Vanesborg court will decide if the restructuring progress will continue, or will put an end to it all.
Story References: Autonews
