By on September 17, 2011

 

That’s not us making the prediction. Stockholm News says  that  “Saab’s fate could be decided on Tuesday.” On Monday, the Court of Appeals will meet and will deliberate whether Saab will be allowed to appeal the District Court’s denial of  a reconstruction.

Stockholm News does not expect a decision until Tuesday. But it predicts:

“If the Court of Appeals does not grant a reconstruction will the trade union IF Metall most likely call for bankruptcy on Tuesday afternoon.”

In the meantime, other bankruptcy petitions are  piling up. The Japanese supplier Takata-Petri is the first foreign subcontractor to file bankruptcy petitions against Saab. For good measure, they filed two petitions from Takata-Petri companies in Germany, and one each from Romania and Poland. Before, two unions already filed for bankruptcy. One supplier filed and withdrew.

And weren’t there €70 million on their way from the sale of the license for the PhoeniX platform? All quiet on that front.

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9 Comments on “Our Daily Saab: Could be Done By Tuesday...”


  • avatar
    dwight

    What a mess.

  • avatar
    seanx37

    Am I the only one that wants this to drag on for months? Who else wants the entertainment of a long protracted slow motion horror show?

  • avatar
    mazder3

    Barack Obama, the UAW and the reverse vampires conspired to kill Saab for months. They want it dead cause Saab has acquired supermodern technologies from Spyker that they want for themselves for free.

    There. That aught to drive up pageviews! ;)

    • 0 avatar
      Pch101

      Barack Obama, the UAW and the reverse vampires conspired to kill Saab for months.

      Rumor has it that the president wanted to relocate the factory from Trollhattan to his native land of Kenya, and then make Kenya part of NAFTA so that Saab could claim that its cars had 127% domestic content, more than any other car maker. Of course, this is just a rumor…

  • avatar
    Pig_Iron

    Hoping the best for all concerned. – Still think VAG is the best hope.

  • avatar
    Tstag

    The latest rumour is that Geeley (the company behind Volvo) plans to buy SAAB once it goes bust. Allegedly Geeley only wants the brand.

    I guess there is some logic in that. SAAB could do sporty and Volvo out and out luxury. They could then share the same plants and parts. But how would all those SAAB dealers get on without having any product for a few years?

    • 0 avatar
      Its_Magic

      They don’t want/need the brand (the brand belongs to Saab AB, a different company). Geely/Volvo is interested in the knowledge Saab had and in their engineers.

      Volvo is still looking for 1.000+ engineers. And it is hard for them to find them in Sweden:
      http://translate.google.com/translate?sl=sv&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.svd.se%2Fnaringsliv%2Fingenjorsjakten-gar-trogt-for-volvo_6475394.svd

      • 0 avatar
        Seán Moloney

        Exactly, the name belongs to Saab AB and thus cannot be sold separately. The latest reports coming out of Beijing could possibly give the courts reason to grant Saab a reconstruction though. Reports indicate that both the local and regional departments of the Chinese NDRC have given their approval for Pang Da and Youngman to invest in Saab, the only department that remains for approval is the National department, once (and if) they allow this to go ahead Saab will have the money to pay their suppliers and employees and get production going again.

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