Loading indicator
News & Reviews
Last 7 Days


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.




SHARE THIS ARTICLE