Saab making last plea to avoid bankruptcy
Saab has made what could be a final plea to avoid bankruptcy as it waits for investment deals to come through from Chinese companies Pang Da and Youngman.
The company was given until 11am yesterday to hand in its response to Guy Lofalk, who applied to have courts lift the Saab bankruptcy protection after he saw no possibility of Saab making a successful reorganisation.
Saab failed to make the 11am deadline, only just handing in its statement plea before 4pm when the court closed.
Saab owner, Swedish Automobile, asked Swedish courts to hold off for a few more days, saying that it is in "intense final negotiations" with investors. The company said in a statement,
"The final result of these negotiations, which can come more or less anytime, are conclusive for Saab's ability to take a stance on the question that the court has asked Saab to comment on. Thus, Saab cannot, until the result is known, make any remarks."
"Just a few minutes before four o’clock, we sent a statement to the court that basically says 'we recognise that we were given an opportunity to file an opinion. We have not done that because we were at the final negotiation stage with our financial investors'."
A final decision from the court is set to be finalised today (local time), however, it's almost anyone's guess as to what will actually result.
Video: ‘Top Gear Australia’ first preview and release date
Video: ‘Top Gear Australia’ first preview and release date
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