The (digital) ink on our story about Saab North America's hopes and dreams had barely dried when news came in that a Swedish court denied Saab Automobile's voluntary reorganization application that would have protected the company from its creditors, which include the labor unions and parts suppliers.
Saab was trying to win some time and complete a deal with Chinese investors. However, the Vänersborg district court ruled that it could not see how the Swedish automaker could secure additional funding to continue its operations.
“It appears unclear if –and if so, when- the relevant Chinese authorities will approve the agreements”, the court said.
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China
- Slowing Demand in China Forces Luxury Carmakers Like BMW to Offer Big Incentives
- China's Geely, Owner of Volvo, Denies Interest in Buying Saab
- Report: Saab has Yet to Receive Chinese Funds
- Bentley Launches China-Only Continental Flying Spur "Linley" Special Edition
- Taiwan’s All-Electric Studio X-Gene Avant GT
- BMW Treats China with New Z4 sDrive23i Limited Edition
- Video: Man Drives Nissan In and Out of Chinese Hospital
- Ford Says it's Considering Building Electric Cars and Selling Lincolns in China
- Video: In China, the Ride Goes on Even if You're Missing a Wheel…
- Quiz: How Many Children can fit into this Small Mini Van? Try 64 if it's in China…
- Stayin’ Alive: Swedish Court Accepts Saab’s Reorganization Plan
- GM and SAIC to Develop a New Electric Vehicle in China
- Oh China…Yema Auto Presents Clones of the Audi A4, VW Tiguan and Infiniti EX
- The Manchurian Candidate: Jeep capitalizes on Fiat’s Chinese Operations, Wants to Build SUVs locally
- VW Wants Number One Spot, Will Invest US$86 Billion to Achieve its Goal
- Phoenix Sun: Saab Announces €70 million Technology Agreement
- China May Reject Toyota-Fuji Heavy Industries Joint Venture with Chery, Say it is “One too Many”
- Video: Caution, Dangerously Slippery When Wet…
- China Wants Car Manufactures to Shift Away from Volume and Focus on Eco-Friendliness
- Saab Seeks Court Protection from Creditors, Formulates Reorganization Plan
- Ford Plans to double its Chinese Market Presence in all Segments
- In Car Video Footage of a Very Bizarre Incident
- Buick Launces eAssist Version of LaCrosse in China
- China's BYD Sees Profits Plunge 89% in the First Half of 2011
Saab
- Say Again? Saab 9-5 Sedan 2.8V6 Turbo Named Car of the Year in Singapore
- China's Geely, Owner of Volvo, Denies Interest in Buying Saab
- Report: Saab has Yet to Receive Chinese Funds
- Spyker to be Sold to US-based Equity Firm for €32 million
- Stayin’ Alive: Swedish Court Accepts Saab’s Reorganization Plan
- Swedish Court Allows Saab to Appeal Denial on Reorganization Plan
- Phoenix Sun: Saab Announces €70 million Technology Agreement
- Saab North America Optimistic about Future, Despite Being Left Out of Reorganization Plan
- Saab Seeks Court Protection from Creditors, Formulates Reorganization Plan
- Saab: Victor Muller is Hopeful of Quick Solution, but Reorganization is also on the table
- Saab Denies Reports that it is Seeking Court Protection - For Now
- Saab Worker's Unions May Force Company into Bankruptcy State
- Saab Says there's a New Risk of Delayed Payments to Workers
- Swedish Regulator Prepares to Seize Saab Assets as the Automaker Hires Endeavor to Secure New Funding
- Saab Ditches Frankfurt Motor Show as Debt Concerns Mount
- New Saab 9-3 to Debut in Early 2013 with a Different Name, 9-2 Successor Still on the Table
- Saab Sells 5 Million Shares to Find Short-Term Funds
- Saab Delays Payments to White-Collar Employees
- Update: Saab Subsidiary Resolves Bankruptcy Threat
- More Troubles: Supplier Files for Bankruptcy of Saab’s Tool Division
- Saab Further Delays Production Restart Due to Lack of Parts
- Saab 9-6: Subaru-Based Crossover Prototype Comes out of the Closet
- New Saab 9-4X SUV Arrives in the US, First Model Delivered in Ohio
- EIB Approves Lease of Saab’s Real Estate
Reports
- Toyota Warns Suppliers to Lower their Prices, or Else…
- Vauxhall's VXR8 Sport Saloon Wins MPG Marathon Award, No Really
- Slowing Demand in China Forces Luxury Carmakers Like BMW to Offer Big Incentives
- GM Says Opel Astra Convertible's Replacement to be a Standalone Model Like the VW Eos
- McLaren Delays MP4-12C Deliveries to Fix Software Glitch
- New VW Up! Priced From £7,995 in the UK, Available to Order Now
- This is how Ferrari Introduced its New FF GT in South Korea
- Say Again? Saab 9-5 Sedan 2.8V6 Turbo Named Car of the Year in Singapore
- Awesom-O: TomTom Navigation Launches Top Gear Voice Pack with Jeremy Clarkson [Video]
- Judge Rules in Favor of BMW Dealer who Fired Employee Over Facebook Posts
- Rumors: 2013 Cadillac ATS Sedan to Receive New 2.0-liter Turbo Engine
- 2012 Nissan 370Z gains Standard Oil Cooler, Base Manual Model Dropped from Roadster Range
- Ferrari CEO Says Enzo Replacement Coming Next Year, may get V12 Hybrid
- 1955 Mercedes 300SL Gullwing Special Edition Abandoned in Santa Monica Garage for 40 Years!
- What a Joyride: Cops Try to Stop Stolen JCB Forklift
- China's Geely, Owner of Volvo, Denies Interest in Buying Saab
- New Mazdas to Use "Super-Strong" Bumpers Starting with the 2012 CX-5
- Renault to Increase Output of its Brazilian Factories by 100,000 Units in 2013
- 168,000 VW Jetta, VW Golf and Audi A3 Diesel Models Recalled in the U.S. Amidst Fire Concerns
- The Story of a Man who Bought the Rights to the Auto Avio Construzioni Name Only to be Sued by Ferrari
- Report: Saab has Yet to Receive Chinese Funds
- California Wants Dealers to Put Red Stickers on Damaged Vehicles
- GM PR Tweets that the 2012 Camaro ZL1 Laps the Nürburgring in 7:41.27
- Honda to Reduce Production in Japan by 50% Over the Next Decade
- Toyota Maintains World’s Number One Spot in Global Value Report
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