Admin trying to terminate Saab reorg, Muller responds by trying to terminate admin

Things are apparently getting nasty inside Saab as the company continues to scramble for a route to viability. Autocar reports that Guy Lofalk, the court-appointed administrator placed in charge of the company's reorganization affairs, recently applied to terminate the automaker's reorganization process. That move would effectively strip Saab of the protections it enjoys from its creditors while it seeks further investment from outside sources, which means it wouldn't be long before the company found itself snuffed out. But CEO Victor Muller has vowed that Saab will continue to fight for survival, and the automaker has reportedly moved to have Lofalk ousted from the process as a result of his actions.

How's that for some corporate drama?

Muller also said that he believes that Lofalk's talks with Pang Da and Youngman may have lead the two Chinese automakers to consider a full takeover of the Swedish brand instead of merely buying a 50-percent stake in the company. The two companies reportedly made a takeover offer today, but Muller says that Lofalk has overstepped his authority. Saab has since outright rejected the takeover offer, and both Pang Da and Youngman have backed away from the automaker altogether. That would appear to leave Saab with little more than a small investment from North Street Capital to keep it afloat.

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