Saab has been granted the right to appeal the District Court's decision last week to reject Saab Automobile's proposal for voluntary reorganization. This doesn't mean an appeal has been granted, only that Saab does indeed have the right to pursue an appeal in the case. According to the automaker, the Court of Appeals in Gothenburg, Sweden, is expected to issue a further ruling shortly. Hold on tight, Saabophiles, and feel free to read the short-but-official press release after the break.
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COURT OF APPEAL GRANTS RIGHT TO APPEAL TO SAAB AUTOMOBILE IN VOLUNTARY REORGANIZATION CASE
Zeewolde, The Netherlands, 19 September 2011 - Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile) received a right to appeal from the Court of Appeal in Gothenburg, Sweden today in their efforts to obtain approval for its proposal for voluntary reorganization.

Saab Automobile is pleased with the Court's decision and will now await further developments. The Court of Appeal is expected to rule shortly on Saab Automobile's appeal against the decision by the District Court in Vänersborg to reject Saab Automobile's proposal for voluntary reorganization.

- Ends -


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