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Saab: Swedish administrator seeks to end court protection

Thu, 20 Oct 2011 00:00:00 -0700

Saab: Swedish administrator seeks to end court protection

It’s a day and a half for Saab. But then, they are used to it.

It’s been revealed that the administrator of Saab’s court protection in Sweden – Guy Lofalk – is to apply to the court to end the court protection for Saab.

This revelation follows on from this morning’s news that North Street Capital has agreed to pump money in to Saab in the absence of a big chunk of money from China not having been received by Saab.

Last week Saab had to firefight to stop the court protection being removed after the Pang Da chairman said he believed the deal with Saab was no longer valid after they entered court protection.

We have to wonder if the Swedish court appointed administrator is starting to see Victor Muller’s endless machinations – and the lack of delivered promises – as just prolonging the inevitable.

Saab has said it will contest the application to have its protection removed, and that they will seek to have Guy Lofalk removed as administrator.

Do we now call this the end for Saab?

By Cars UK