Saab Granted Court Protection From Creditors

Saab Granted Court Protection From Creditors
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The Saab soap-opera continues, but this week the news is good. Saab just won a court appeal to protect it from creditors while it awaits funding from its Chinese investors. Earlier this year, two Chinese companies, Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed to buy shares in Saab, totaling $334-million…. Continue Reading...

Swedish Government Rejects Saab’s Request For Bankruptcy Protection

Swedish Government Rejects Saab’s Request For Bankruptcy Protection
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It was just yesterday when we reported that Saab was seeking government protection against bankruptcy, but now it seems like this step has failed. A Swedish court has rejected a protection and voluntary reorganization plan, citing that it does not believe any steps the automaker makes will help it to recover. Saab is “disappointed” with… Continue Reading...

Saab Files for Bankruptcy Protection

Saab Files for Bankruptcy Protection
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Another week and another sob story regarding Saab. The troubled automaker has just applied for protection from creditors, and is trying to avoid the bankruptcy petition made by the unions. A once thriving manufacturer that made fighter aircraft, trucks and automobiles, the auto division of this 65 year-old company has been struggling ever since General… Continue Reading...