After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded.
The Board of Saab Automobile subsequently decided that the company without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors. It is expected that the Court will approve of the filing and appoint receivers for Saab Automobile very shortly.
Swan does not expect to realize any value from its shares in Saab Automobile and will write off its interest in Saab Automobile completely.Raising roof on 25 years of innovatin
1 June 2011 Saab announces new prices for 9-3 range
14 March 2011 World premiere of Saab's first EV
17 September 2010 Wider engine choice for Saab 9-5
8 September 2010