The Saab Museum has reopened after Saab’s bankruptcy problems and a Trollhatten dealer is to ‘build’ the last 100 Saabs. We’re still waiting for a decision from Saab’s administrators about which – if any – of the bids they’ve received for what’s left of Saab are solid enough to pursue. But that hiatus doesn’t mean there’s no […]
Saab: Swedish administrator seeks to end court protection
The administrator of Saab’s court protection to allow it to reorganise its finances – Guy Lofalk – is seeking to end the 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 […]
Saab funding from China likely delayed. Gets loan from North Street Capital
Saab has revealed it doubts the funding from China will arrive on time and has taken a loan from Spyker buyers North Street capital. Last week we had Saab and their Chinese ‘backers’ getting in a bit of a muddle over funding. Which is what we’ve come to expect. Saab were adamant that the quote attributed to the Pangda […]
Saab gets small payment from Youngman after yesterday’s ‘misunderstanding’
Yesterday the Pangda Chairman said the Saab deal was no longer viable. Today, Saab confirms it has received the first payment from China’s Youngman What on earth are we going to do once the Saab Saga is resolved? The machinations and misunderstandings surrounding Victor Muller’s increasingly desperate quest to keep Saab alive has probably provided more stories […]
Saab deal no longer valid says Pangda Chairman. The end of Saab?
Saab is waiting for a deal with Chinese companies Pangda and Youngman to save them. But Panda’s chairman says the deal is no longer valid. Update 10 am 12/10/11: Saab & Pangda have issued a statement about this story and say that the reports of the Saab deal with Pangda and Youngman as being no […]
Saab’s Heritage Cars snaffled by the Bailiffs
The day before Saab managed to get court protection from its creditors this week, Swedish bailiffs visited the Saab Museum and sequestered the historic cars to pay Saab’s debts. Just like every other car maker with a lineage, Saab likes to make the most of its car-making history. So it has a museum with everything from […]
Saab gets approval for voluntary reorganization on appeal
Saab has been granted the right to court protection whilst it restructures, overturning an earlier judgement by a District Court. Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal […]
Saab gets a ray of hope from China
Saab lost its bid for court protection from creditors last week, but there’s a ray of hope as its putative Chinese investors proclaim approval for their deal likely. The saga that is the long and painful demise of Saab seemed to reach its nadir last week when courts in Sweden refused to offer the beleaguered car maker sanctuary in […]
Saab plea for Court Protection dismissed – owes €150 million to creditors
Saab’s application for court protection in Sweden to protect it from creditors has been dismissed. It’s revealed Saab owes €150 million to creditors. We hoped Victor Muller had found a way out of Saab’s financial woes by applying to the Swedish Courts for protection from its creditors while it waited for funds from China to […]
Saab enters Court Protection – just as we predicted
Saab has applied for Court Protection from its creditors whilst it seeks to re-organise and buys time for investment from China to arrive. Two weeks ago we reported that Saab were about to seek court protection from its creditors in a bid to buy time until investment from China arrives. And that’s exactly what’s happening. Saab are waiting for […]