Monday, April 06, 2009
Court approves SAAB restructuring
The court, in Vanersborg, approved the extension after hearing that no creditors had entered reservations against Saab's proposed reorganization plan, which envisages asking creditors to write off 75 percent of its non-prioritized debts. "The court has decided that the reconstruction can continue until May 20 at the latest, if no other decision is taken before then," the court said.
A court-appointed administrator, Guy Lofalk, said about 20 "actively interested parties" were eyeing Saab, whose U.S. parent has said it will cut its ties with the brand by Jan. 1, 2010
DATED: 06.04.09
FEED: ANE
