The fate of Saab continues to twist in the air, as Autocar reports that the Swedish court-appointed administrator Guy Lofalk has decided to step down. The news of Lofalk's requested exit from the hearings comes but one week after he applied to have Saab taken out of reorganization.

If Lofalk succeeded in taking Saab out of reorganization, the automaker would have had less than a week to submit a plan to the Swedish District Court outlining how it will find the money to keep the doors open. Saab wasn't at all happy with Lofalk's request, and now the struggling automaker has a little bit of a breather. The Vanersborg District Court has decided to postpone the decision to approve Lofalk's application on Monday, and his replacement Lars-Henrik Andersson is likely to be appointed the same day.

With the slight delay in the courts, Saab now has more time to pursue additional loans. Since General Motors vetoed an alliance with Chinese partners, Saab parent Swedish Automobile CEO Victor Muller is reportedly looking for an $800 million loan from Chinese investors and unnamed banks.

UPDATE: According to a new Reuters report, a Swedish court has apparently ruled against the planned administrator switch, saying that Lofalk is not allowed to quit his job because the process is too far along. The court is still expected to rule on Monday whether or not to extend Saab's protection from creditors.


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 16 Comments
      SteveM
      • 3 Years Ago
      This has reached the point of absurdity. Their court and finance systems appear to need a bit of work. This shouldn't be allowed to go on so long. 6 months ago this was a more viable brand than it is now. If somehow there were funds made to continue the brand, then good luck trying to sell them at anything approaching a profit and a reasonable volume.
      selder1958
      • 3 Years Ago
      This is starting to remind me of the TV coverage of the Iranian hostage crisis in the late 1970s. Saab Survival Watch: Day 243.
        kevsflanagan
        • 3 Years Ago
        @selder1958
        Tv: Oh wait looks like they are releasing a Hostag...erm Car.... wait no.... no they are not.
      Avinash Machado
      • 3 Years Ago
      Go Saab. We enthusiasts are rooting for you.
        • 3 Years Ago
        @Avinash Machado
        [blocked]
      • 3 Years Ago
      [blocked]
      Design1stCode2nd
      • 3 Years Ago
      Anyone else tired of hearing “Saab lives, Chinese money, Saab dies money blocked, Saab lives last minute cash infusion, Saab dies court blocks..” The brand is so damaged it doesn’t matter if it lives or not anymore, who would buy from a company that no one knows will still be in existence and even if it is you are directly supporting communist China with your second largest consumer purchase?
      • 3 Years Ago
      [blocked]
      Adrian Elliot
      • 3 Years Ago
      Oldsmobile, Pontiac, Saturn, Hummer, and Mercury all died without much of a fight. Saab may soon join them in the automotive graveyard, but it certainly won't be for lack of trying.
      kevsflanagan
      • 3 Years Ago
      Well latest I heard is that if the deal isnt locked in come Sunday before they go into court its all over.
      sanmusa
      • 3 Years Ago
      Hey Autoblog, how about getting some new pictures for your SAAB stories? (Sob stories?) You guys keep rotating the same photos over and over. Here are many SAAB pictures for you: http://daddywasaplane.tumblr.com/
      • 3 Years Ago
      [blocked]
    • Load More Comments