In the middle of all the turmoil that has plagued Saab Automobile and Swedish Automobile N.V., the company plainly refuses to give up. Not too long ago, news was released that two Swedish unions filled for the bankruptcy of their division of Saab. After the automaker received news that their appeal against the initial denial of their voluntary reorganization was given the ‘go-ahead’, they have announced another spat of fighting back. An official dispute against the union’s bankruptcy fillings has been issued to the District Court in Vänersborg, Sweden.
An argument ensued between the two companies who both say they are not insolvent. Temporary liquidy problems are supposedly the main issue that both companies hold and there are hopes that the Youngman and Pang Da equity contributions will solve the problem. Unfortunately, the two Chinese companies are still waiting for regulatory approval from their government, which should happen sometime in November.
The final word regarding the Swedish Court’s decision on Saab’s voluntary reorganization is still up in the air.
Source: Saab
