Saab 'confident' it will get deadline extension to restructure
Swedish laws are structured in such a way that a corporation that's filed for bankruptcy can extend its protection a total of three times over the course of twelve months if its business plan is solid. Saab's exit strategy includes a Swedish government-guaranteed loan of 500 million euros from the European Investment Bank and hinges on creditors acceptance of a 25% payback of Saab's current debt load and a slew of desirable new products. What could possibly go wrong?
[Source: CNN Money]
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