Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

SAAB News: Saab Gets Two Lifelines

William Maley

By William Maley
in SAAB / NEVS

 Share

Recommended Posts

William Maley Enthusiast

William Maley

Posted
Posted

William Maley

Editor/Reporter - CheersandGears.com

December 14, 2011

Last time on the story of Saab; Guy Lofalk, the court-appointed administrator of Saab’s voluntary reorganization filed paperwork to end the reorganization and the Swedish courts would make decision this Friday. But like all other times, Saab has found a lifeline to keep them afloat. This time, Saab has found two.

Lifeline #1 comes from Youngman Automotive who sent Saab 3.45 million Euros (about $5 million U.S. dollars) to cover immediate tax expenses this week. But that's not all; Youngman is promising a further $26.4 million payment this week to cover unpaid salaries and $13.2 million more by the end of December.

Lifeline #2 comes from Swedish courts. Originally, the Court told Saab they had until tomorrow to present a case on why the court should continue the voluntary reorganization. Well, the Court has moved the hearing to next week.

Source: Reuters, Left Lane News


View full article

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search

Change privacy settings