Bankrupt Saab automobile’s liabilities larger than previously thought - Skr13 billion

Tuesday, 03 April 2012
The bankrupt Saab Automobile’s liabilities has been accounted to stand at between Skr12 and Skr13 billion, and assets including land is a "a fraction of this." This was announced by Saab's bankruptcy administrator on Tuesday in a press conference.

Final offer from those interested in taking over the company should be announced inside the first working day after Easter.

The administrators have put the finishing touches on the bankruptcy estate inventory are and will be publicly make the information available the first working day after Easter, that will be on the 10 of April, according to administrators, Hans Bergqvist and Anne-Marie Pouteaux on Tuesday's teleconference with the press.

"They are high. Very high, "said bankruptcy trustee Anne-Marie Pouteaux regarding the level of the company’s indebtedness. This comes as Saab assets heavily dwarfs the debts the company is grappling with. The assets are a fraction of the debt, according to Bergqvist.

The question of what happened at Saab Automobile prior to the bankruptcy decision is now being investigated by the administrators, and shall be stated in the story that manages according to previous data will be completed towards the end.

"This includes both the descriptive part of what has happened in the past and what led to the bankruptcy decision and also a review of accounting and financial transactions. It is a work in progress but not completed, "said Anne-Marie Pouteaux.

The sales process is now intensively underway, according to the administrators. A handful of interested parties who want to buy the whole company remain, and it is reported that they’ll made known the first working day after Easter in which they’d have submitted their final bids.

"In this sale process that we run now, it only stakeholders who are interested in opening some kind of industrial activity with the car company here, "said Hans Bergqvist on the Tuesday's teleconference.

Only the Turkish Brightwell has dropped out since the preliminary bidding round, according to the administrators. But those that are still on will continue to remain top secrete.

The candidates that have featured as hot Saab buyer are Chinese Youngman, Indian Mahindra and a Chinese-Japanese consortium.
Bankruptcy managers' ambition is still to sell the entirety of the company this summer.
By Scancomark.se Team

What do you think about this article or us? Please leave a comment. Thank you!