Saab D-day countdown: new administrator named | CarAdvice

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Saab D-day countdown: new administrator named

By Jez Spinks |
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The farcical Saab saga has taken another twist days before a crucial court ruling on its future after the brand was snubbed by its choice of new administrator.

Saab has been forced to select Lars Soderqvist of law firm Hokerbert & Soderqvist as the person to oversee its reorganisation and protection from creditors after another lawyer, Lars-Henrik Andersson, turned down the offer of the post.

Andersson had been due to replace Guy Lofalk, the previous court-appointed administrator who decided to quit and had earlier this month suggested the car maker had little prospect of being saved.

The CEO of Saab owner Swedish Automobile, Victor Muller, told media this week that it has received $3.4m euros ($4.4 million) from a Chinese company, Zhejiang Youngman Lotus Automobiles, which is looking to invest in the brand.

Former owner General Motors, however, remains opposed to Chinese investment, claiming its technology still used in Saabs would affect its competitiveness in the world’s most populous nation.

Saab’s fate is likely to be determined by a court in Vanersborg, Sweden, next Monday, when it will rule whether the brand can remain in a scheme that currently grants it a safeguard against creditors while it explores investment opportunities.


 

  • Lucii Pooky

    General Motors reason for not letting them go is absolutely pathetic. Volvos still use Ford technology but Ford didn’t throw a wobbly when it sold them off too Geely because they still use it in their much larger range of cars! Get over yourselves GM, you’ve made a fool of yourselves.

  • Khashi01

    Saab deserves to stay in business. They make nice looking cars. This company needs to stay alive since a lot of jobs are associated with it and depending on it.

    I hope Saab stays around forever.

    KH – LA – California

    • jacko

      totally agree with you :)

  • A-Train

    GM was happy to hold out its hand when it needed bail out help, yet now it stands in the way when SAAB is offered a lifeline.

    Kharma is a biatch GM, what goes around comes around.

  • Anonymous

    I wonder how many people that comment here who want to save a dead in the water, irrelavant car company like Saab are the same ones that are happy to see the death of the australian auto industry? Would be hypocritical, no?

    Will be interesting to see their reasoning    ; )

    • Lucii Pooky

      I personally would prefer it if the Falcon and Commodore didn’t die. They’ve been around for so long for names are now part of Australia!