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Swedish Regional Government Demands $15.9 Million in Debt from Saab

NINETY EIGHT REGENCY

By NINETY EIGHT REGENCY
in SAAB / NEVS

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NINETY EIGHT REGENCY Veteran

NINETY EIGHT REGENCY

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Swedish Regional Government Demands $15.9 Million in Debt from Saab

THURSDAY, SEPTEMBER 23, 2010

A local government authority in Sweden is seeking to recover US$15.9 million from Saab, even going so far as to enlist a government debt collector.

Vastra Gotaland, where Saab's main production plant is located, covered worker wages to the tune while the company was in administration. Now that Saab has its very own 'Daddy Warbucks' in the form of Spyker, the regional government wants its money back.

Spyker / Saab believes it should only have to pay part of the debt as it was underwritten during the administration process. Vastra Gotaland disagrees. Spyker CEO Victor Muller told Reuters news that he is unworried:

"Just a legal dispute that will [be] dealt with in the appropriate way. Nothing of concern."

We'll see how this plays out in the next few weeks and keep you updated on any new developments.

By Tristan Hankins

link:

http://carscoop.blogspot.com/2010/09/swedish-regional-government-demands-159.html

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