Swedish Debt Enforcement Agency Begins Collection Process Against Saab

Harry Lay
by Harry Lay

Sweden’s regulators started the collection process against Saab Automobile after the struggling automaker failed to meet a Tuesday deadline to pay two suppliers.

”We’ve just begun by looking at what kind of bank accounts they have and what kind of collateral there might be” in the process that started Wednesday, Tommy Barkman, a case worker at the state agency, explained in a telephone interview with Automotive News.

Saab was to pay Kongsberg Automotive, a Norwegian manufacturer of car-seat parts. The Swedish automaker was also supposed to pay Infotive AB, a Gothenburg, Sweden-based consulting firm, a combined sum of $633,000 to avoid proceedings. The majority of that amount is owed to Kongsberg, Hans Ryberg, a division chief at the enforcement agency, said on Tuesday. Another $792,200 is owed to more suppliers in a weeks time. Over one-hundred debt claims have been filed against Saab with the collection agency.

Production came to a stand still in late March when the automaker could not afford to continue production, and the Trollhattan factory in Sweden has not been operational since early June. Usually the collection agency takes one to three months to complete the collection process, but this can be avoided in Saab pays off the debts owed.

[Source: Automotive News]

Harry Lay
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