court protection
Saab Could Lose Court Protection From Creditors
Saab has officially been struggling for two whole years now, since its problems first came to light in December, 2009. With time, it has seen some positive developments, but things don’t look any better for the foreseeable future. A few months ago, Saab had received a court order that prevented its creditors to push the…
Saab Granted Court Protection From Creditors
The Saab soap-opera continues, but this week the news is good. Saab just won a court appeal to protect it from creditors while it awaits funding from its Chinese investors. Earlier this year, two Chinese companies, Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed to buy shares in Saab, totaling $334-million….
Saab to Apply for Creditor Protection as Bankruptcy Looms Yet Again
Debt ridden Saab is to apply for court protection from its creditors in a bid to stave off bankruptcy get again. For months, the automaker has struggled to raise finances to pay off suppliers, and as a result, has halted production. Saab was rescued from bankruptcy last year by Dutch owner, Swedish Automobile (formerly Spyker),…
