Wednesday, December 7, 2011

Saab Administrator Wants To End Reorganization

Saab's administrator will ask a court to end its voluntary reorganization for the cash-strapped carmaker, potentially opening the door for creditors to liquidate one of Sweden's best-known brands.

Saab owner Swedish Automobile said Saab and its creditors have approximately five to six days to submit their views to the district court in Sweden before the court decides whether to end the reorganization.

Saab has lurched from crisis to crisis in the past year and has not produced any cars

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