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The Purchasers of Saab automobile must pay for the product before Friday or the deal is off

Tuesday, 28 August 2012
The company that bought the Saab Automobile's bankruptcy estate, electric car consortium, Nevs, must pay the money for the purchase this coming Friday - otherwise the deal is blown off.

Media reports in Sweden say that  Nevs payment for Saab has been delayed and it is being blamed on problems with funding, and according to several sources the bankruptcy administrators are getting out of patience.

The administrators Hans Bergqvist and Ann-Marie Pouteaux are according to sources, had a meeting with Nevs chairman,  Karl Erling Trogen on Thursday. It is though that he had explained that the money to be paid for completion of the Saabe deal was not there ...yet. The news is said to have upset the administrators, who then gave Nevs a new dateline to pay.

According to the bankruptcy managers' information, it had been previously expected that there was money on the table that apply, and that no credit transactions were  accepted.

So far Nevs had just paid a deposit of Skr150 million of purchase price which is the full price is reported to be Skr1.8 billion.

The cause of the financial mess is said to be that the Swedish-Chinese businessman Kai Johan Jiang, behind Nevs, had problems with prospective financiers in China since the Saab brand is no longer included in the deal. Kai Johan Jiang has previously stated, according to media reports that the trademark was not a crucial issue in the deal.
By Team

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