A couple of weeks ago, Swedish Automobile N.V. and Saab filed for voluntary reorganization. The Swedish government denied the request and Saab immediately issued an appeal. The struggling car company stated that the District Courts were far too strict in its original ruling and mentioned that it was not attempting to “abuse” the Swedish Company Reorganization Act. As of now, Saab’s request to appeal has been granted.
The appeal is being reviewed by the Court of Appeal in Gothenburg, Sweden. Whether or not the appeal actually passes is still up in the air, but Swedish Automobile N.V. is pleased none-the-less. The ruling against the voluntary reorganization made by the District Court in Vänersborg and Saab’s appeal will be studied and a decision should be made rather shortly. In the mean time, Saab can only cross their fingers and take a deep breath.
Source: Saab
