Official: Saab to appeal court decision on Monday

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Official: Saab to appeal court decision on Monday

September 9th, 2011 | 0 Comments »

Official: Saab to appeal court decision on Monday news 2b161 saab emblem Yesterday, Saab announced that its request for government protection was denied by a Swedish court, citing that the court feels that the automaker’s proposal for a voluntary reorganization would not work. Furthermore, it is unclear to the court whether or not the proposed €245 million from China’s Pang Da and Youngman companies will be enough to fix the Swedish automaker’s financial woes (assuming the Chinese government approves this equity contribution). Saab disagrees with the court’s interpretation of the request for government protection, and now plans to file an official appeal on Monday, September 12. Full release after the jump.

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Saab to appeal court decision on Monday originally appeared on 7×69 on Fri, 09 Sep 2011 11:44:00 EST. Please see our terms for use of feeds.

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