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by RobinM

Final Results for Griffin Models Competition

March 3, 2015 in Model Saabs, News

During 2014, Andrei at Griffin Models, ran a competition for those building his kits.
Yesterday the results from a poll on his site were announced and Peter Haubold was the winner with his 95HK.

With a massive lead (187 votes – 40%) we have a Griffin Models build-contest winner. It’s Peter Haubold with Saab 95HK Motorhome kit.
We contacted Peter and he selected his prize, which is:
- Griffin Models Saab 9-5 SportCombi 2012 kit
CONGRATULATIONS, PETER !!!

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by till72

A First Step for NEVS

March 3, 2015 in News

Today the district court of Vänersborg made a positive decision regarding NEVS’ request for composition negotiations with their creditors. The meeting of the creditors is scheduled for March 23rd in Vänersborg. More info on the proposal that is discussed then can be found here.

However, the more importand decision about the extension of the reconstruction is still to be made later this week.

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by till72

Brand Name Talks – Or Not?

February 26, 2015 in News

As NEVS had their creditor meeting today SvD tried to investigate a bit and asked SAAB AB about the talks between them and Mahindra and/or NEVS since this was stated in the presentation that was shown to the creditors. The answer was a bit of a surprise:

- There has been no such negotiations between Saab AB and foreign automakers and that has been ongoing for a number of months, says Sebastian Carlsson, Media Director at Saab AB.
But the administrator states that you “started exploratory talks” about the continued use of the license in December. Is he lying?
- Yes, the information is not correct. There are no negotiations for a number of months.

Having gotten that info the went back to the administrator, Lars Eric Gustafsson, and confronted him with that statement. Here is his reply:

- As a lawyer I won’t speak untruthful. I have written “soundings” in my statement and I stand by it. I affirm that I have information about it, be it soundings or dialogue.
How important are these talks about the brand for reconstruction to succeed?
- They are important but not decisive. The reconstruction does not stand or fall with it. The District Court will convene in late March for a decision on a possible renewal, says Lars Eric Gustafsson.

Native speakers can read the original article here in Swedish.

So what do we make of that? In court it would be a classical deadlock with two contrary statements. Looking a bit behind it does not bring us any further either. There is no need to deny anything for SAAB AB. On the other hand the admin has no reason to lie either. He is responsible for his statements and he would not risk anything for just a few more months of administrator salary.

It seems to be one of those sit and wait moments (again). Let’s see if more statements on this issue surface in the next days. By the end of March we will know if this story will just be a sidenote or a stumbling stone.

Nevs applies for prolonged reorganization and composition proceedings

February 26, 2015 in NEVS, News, Press Releasse

Today, Thursday February 26, 2015, National Electric Vehicle Sweden AB (Nevs) applies for prolonged reorganization and composition proceedings to the District Court in Vänersborg.

In a meeting at Nevs today, the company and the reorganization administrator will inform present creditors of the composition proposal sent earlier, together with Nevs’ goal and plan to exit the reorganization.

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by till72

Tuesday Snippets

February 24, 2015 in News

Snippets. It’s been a while since those were here on SU. I thought it might be worth reviving that to cover some things that are not big enough for a seperate post but worth mentioning and at times to look a bit outside the Saab box.

There is nothing new to report from NEVS and the process of reorganisation, or better, the attempt to exit it. I believe everybody is busy talking to the creditors to get things through, which is a tough thing in itself. It’s not even worth speculating too much with only two more days until the creditors have their say.

Hence we start with a look back in time. Yesterday it has been five years that we celebrated the first (and only) Saab independence day. I can still remember those exciting and emotional days back then. Maybe it’s that time that tied me even further to the brand and keeps me doing what I do. What happened in those past five years, well, we all know that. If you’d like to refresh some memories here’s a small video covering the first year under Spyker.

neo project

On to something more fun – as you might remember site sponsors NeoBrothers are currently working on their new 96 project. It has meanwhile come to a point where you get a rough idea what it will be like. You can follow the updates on their facebook page.
Read the rest of this entry →

McLaren supercar comes off the worst in crash with SAAB Convertible

February 23, 2015 in News

McClaren

A McLaren supercar worth £250,000 was left almost entirely destroyed after it crumpled following a crash in one of London’s most exclusive districts, scattering its expensive parts across the road.
The McLaren 650S Spider, which can reach speeds of more than 124mph in less than nine seconds, was badly damaged after a head on crash with a more modestly priced Saab Convertible in Eaton Square in central London.
It is understood that the supercar, which was brand new and registered in Monaco, was turning right at traffic lights when the two vehicles collided on Saturday evening.
The supercar then spun around as a result of the impact, the wreckage showing a bonnet almost completely folded and the front of the car left crumpled and smashed.
Parts of the McLaren’s expensive bodywork were left scattered across the road after the crash, which took place at around 8pm on Saturday evening.
Although the front of the SAAB was badly damaged it appeared to suffer considerably less damage than the McLaren.

                                                                               

McClaren 7 McClaren 2 McClaren 3 McClaren 4 McClaren 5 McClaren 6 McClaren 8 McClaren 9

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by RobinM

5th Saab Swiss Fondue Meeting, Vallorbe.

February 21, 2015 in News

After the 4 first editions in the Swiss Neuchatel-Jura, were we lived, the 5th Saab Swiss Fondue Meeting moved with us in Vallorbe, still in the Swiss Jura… but Canton de Vaud ! All the people are welcome at our house to share an Apero des region.
Everybody take something to eat or to drink from his area to share with the other people. In the afternoon, we usually moved to Mariette’s Restaurant de la Vieille Fontaine. As this year we would be too far away Mariette and her daughter Pervenche came to make the Swiss cheese fondue in Vallorbe !
We had people from Great-Britain, Netherland, Luxembourg, France, Germany and all parts of Switzerland. About 30 Saabs for more than 60 people.
Thanks our sponsors: Hirsch Performance, Orio/Saab Service, The Saab Farm, Editions Atlas, Banque Cantonale Vaudoise BCV, La Semeuse and Dimini.ch. Thanks also averybody for comming to make this nice event even nicer year after year !

Dimitri and Frederic

Please visit Dimitris Flickr page for more pictures

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by RobinM

Press Release from Nevs

February 19, 2015 in NEVS, Press Releasse

A composition to get Nevs out of reorganisation

National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs’ owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhättan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product.

-     The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman.

The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500’000 SEK. Meaning that from a total of 573 creditors 469 will get their full claim paid, and 104 creditors will have their claims above 500’000 SEK reduced by 50 percent.

-     Provided that Nevs’ composition proposal is accepted, it is my judgment that the prerequisites are favorable to also reach an agreement with a financially strong OEM, and thereby enabling a continued business potential for the creditors. With this said, it is my opinion that accepting the composition proposal is advantageous for the creditors. The alternative of a liquidation would likely result in a lower dividend several years later, says the Administrator, Attorney Lars Eric Gustafsson, Hamilton Law Firm.

All creditors are invited to an information meeting at Nevs in Trollhättan on 26 February.

Attached is the Administrator Report. Click here to read it on Hamilton law firm’s website. 

Mikael Östlund Director Communications and Public Affairs