The District Court of Vänersborg today approved the composition proposal earlier presented by Nevs, as the stipulated number of creditors’ votes needed for the court to decide in favor of the composition proposal was achieved.
The number of present creditors entitled to vote, and those who on beforehand had approved the proposal and signed a proxy for the Administrator to vote for them, amounted to 98,2 percent of the creditors and 98,6 percent of the amount of the debt.
The composition means that claims up to 500’000 SEK will be fully paid, and that claims above 500’000 SEK will be reduced by 50 percent. Of a total of 573 creditors 469 will get their full claim paid.
The payments will be performed in two steps. The first within 60 days from the date that the Court’s decision is legally valid, and the second step within six months from the same date. The composition as well as the operating costs for the coming months will be financed by Nevs’ main owner. Nevs intends to apply for exiting the reorganization as soon as the composition is legally valid in mid-April.
“A composition was needed for Nevs to exit the reorganization in order to be able to sign commercially viable agreements with our OEM and financial partners we have been in dialogue with for a long time. We appreciate the support from our suppliers, with whom we want to continue to develop long-term relations”, said Mattias Bergman, President Nevs.
“My duty as Administrator is to secure that the composition is favorable for both the company and the creditors. Todays’ decision creates possibilities both for the development of Nevs’ business as well as future business potentials for the creditors”, said the Administrator, Attorney Lars Eric Gustafsson, Hamilton Law Firm.
March 22, 2015 in NEVS
Tomorrow Monday March 23 is the next important day in the process of NEVS togged afloat. Tomorrow the creditors will decide if they agree with the plan from NEVS where debts under 500.000 SEK will be payed in full, and the rest will only be paid in half. It is said that NEVS will save with this plan about 300 Million SEK.
Rumours on the Swedish Press say that tomorrow a positive outcome should be expected. But even a positive outcome will not be the light at the end of the tunnel but maybe a big torch to help NEVS find that end of the tunnel.
March 21, 2015 in Technical
Two weeks ago the Geneva international motor Show started. Not being there felt a little bit disappointing, on the one side, because it means another year without New SAAB branded cars, and on the other side because it is fun to be there during the press days and you get the info first hand.
Nevertheless lots of new things have been introduced in Geneva, but for me only two were really of interest.
First was the Koenigsegg Regera. It is always fascinating to see a new car coming from Koenigsegg every year, and on the booth in front of Koenigsegg you have seen the very same car for the last 6 years albeit in different colours. (You can guess which car brand am I talking about).
The Regera is an interesting way of using the capabilities of a hybrid car, but with all the respect to CvK, the Regera is a hybrid car. What I didn’t like about the Regera was the way the press was talking about the car. I mean it is no rocket science what Koenigsegg has done.
Why do cars need a gear-box? No, it is not to be able to drive fast, more than that is to be able to start moving. At low revs an IC-Engine has almost no torque at all, and to get a car to start moving needs more torque than to keep it moving.
Many of you who have been at any Saab meeting in Sweden during the last couple of years has maybe noticed a good looking carbon grey 9-3 “Griffin” sedan. This 9-3 is special in many ways, the first thing is that the car isn’t that you first thought when you saw it – in fact this is a 2009 9-3 Aero, but it’s completely converted to a 2012 9-3 Griffin optics and interior with something extra. The second thing, and for me the most impressive, is what you maybe don’t notice even through the bonnet is open – the engine. In this car the original 2.0 BioPower engine replaced with a 2.2 litre BioPower engine, and it is the story about the engine we are going to tell here.
This is article number two in the story about Emils 2.2 “Griffin” Aero. Part number one will you find here.
The disaster for Saab was a fact and as we all remember the bankruptcy that occurred on 19th of December 2011. That was a tragedy for all Saab enthusiasts, also for Emil. The urge for buy one of the last Saabs produced was enormous, 9-3 Griffin had been manufactured a few months in the spring 2011 and Emil think that was the best looking 9-3 of all the 9-3 SS that was manufactured. There was a few cars standing since the bankruptcy, would Emil afford to buy one of there cars? What would he do with the engine? Griffin has a different direct injected engine, and much is changed from the 2011 9-3 that have a Trionic 8 engine to the 2012 9-3. After a few weeks thinking Emil decided to buy a new 9-3, but NOT a Griffin. That would be too expensive, and the plans with the new engine would go down the drain. The plan now was to buy a 9-3 BioPower 2008 or newer, preferably with as much extra equipment as possible within a certain budget. The search was on, and after a few months I found my dream car. Read the rest of this entry →
March 19, 2015 in News
The Saab gathering was organised by GWS Saab group and was dedicated as a special day for one of it’s dear members and good friend Mark Ovens aka ‘Parish’ who had been diagnosed terminally ill. It was thought at the time that Mark may not get to see Christmas and that the event may well be the last he would attend, as a result of this the turnout on the day was fantastic with over 50 SAAB’S making it to Castle Combe!
Thankfully he did get to see Christmas but unfortunately passed away last week.
The day at Castle Combe was amazing, a day which Mark thoroughly enjoyed from start to finish. The organisers even managed to halt the days’ racing to allow all our SAABS to have three parade laps of the circuit with Mark riding upfront.
Mark and his wife Karen have been regular attendants to many Saab events both here and abroad over the years. He was a big Saab fan just like all of us and will be sadly missed.
On behalf of SAABSUNITED I would like to pass on mine and our deepest condolences to Karen and the family.
His funeral is being held on Semington Crematorium, Trowbridge, Wiltshire, BA14 6HL www.westwiltshirecrem.co.uk
on Thursday 26th March
Anybody wishing to attend are asked to do so in their Saab if possible please and are also requested to wear a powder blue tie.
March 18, 2015 in Events
SWEDISH DAY UK 10TH MAY 2015
In 2008; Swedish Day was started when a gathering of Volvos and Saabs arrived for a pleasant get-together at Haynes Motor Museum in Somerset.
2015 sees us inviting you to our 8th Swedish Day UK.
In 2014 we located to a new venue, Haslebury Mill, just outside Crewkerne. A fantastic old 19th Century Mill with lots of history everywhere you look and beautiful photographs to be taken.
The show is organised for those interested in Swedish vehicles including commercial vehicles as well as all other Swedish products.
The main Swedish Day will take place on the Sunday but as in all the other years we plan to have our Saturday evening meal cooked by the chefs at the Mill.
Limited camping will be available for free if wanted.
Also for the first time last year we introduced a vehicle fee of £5.00.
This was to help us with running costs and monies left over were donated to charity.
The chosen charity for 2015 is “Cancer Research UK”
Each vehicle owner will be given a raffle ticket, as a thank you, for a chance of a nice gift.
On Sunday, the chefs will once more cook up a breakfast for those arriving hungry as well as a Hog Roast at lunch time. The Mill’s bar will also be available during the day.
There will be an area available for a few trade stands and auto jumble alongside our sponsor’s displays.
As always the event will be a leisurely day out, come along, park up and meet friends old and new, chat, admire, eat, drink and chat a bit more.
There will be a few prizes given out, favourite Saab/Volvo, favourite truck, furthest travelled etc. Maybe a Koenigsegg may be seen.
Application forms can be found on the web site; however they will also be in the presentation pack on the day if required.
Thank you very much for supporting Swedish Day and helping it to grow.
We look forward to seeing you on the 10th May.
Many more pictures from the 2014 here on Flickr.
Many of you who have been at any Saab meeting in Sweden during the last couple of years has maybe noticed a good looking carbon grey 9-3 “Griffin” sedan. This 9-3 is special in many ways, the first thing is that the car isn’t that you first thought when you saw it – in fact this is a 2009 9-3 Aero, but it’s completely converted to a 2012 9-3 Griffin optics and interior with something extra. The second thing, and for me the most impressive, is what you maybe don’t notice even through the bonnet is open – the engine. In this car the original 2.0 BioPower engine replaced with a 2.2 litre BioPower engine, and it is the story about the engine we are going to tell here. The way from the idea to the engine actually is mounted in the car has not been quite straight forward, so fasten seatbelts and we start from the beginning of this story!
The Griffin is owned by Emil that lives in the Trollhättan-area, and his interest for Saab has been there since he was a little kid. He basically grown up in a Saab, and the first car he remember was a white 99 combi coupe with brown interior and sport steering wheel. Many of his family-members has worked at Saab, his mother, father, grandmother, uncle and brother – and his uncle has started work at Saab again with the new owners NEVS. As you can image, Saab has always been the obvious choice even if Emil has tried other brands, but the love for the brand has been too strong – so he has always found back to Saab.
And there this story start; in the autumn 2009 there was as we remember a lot of speculation about Saab, and Emil had at this point a BMW M3 E46, a ’89 900i-8v and a ’91 900 Turbo 16S Aero. Emil thought as a Saab enthusiast he should have a Saab instead of the M3, and the new Saab should be a “sleeper” – or a wolf in a sheep’s clothing.
The plan was a daily driver with a potent engine, but which Saab should he choose? He had owned different Saabs before; ’96 900 turbo, ’95 9000 V6, ’87 900 Turbo 8, ’92 900 T16S cab, ’02 9-3 Aero and a ’98 9000 Classic. All with their pro and cons, but none of them had the road holding like a 9-3 SS. But what engine should it be? Petrol, ethanol or diesel? 6 or 4 cylinders? Emil felt the 4 cyl turbo felt most Saab, but the problem was that 210hp was far too little power, his previous Saab was the 9000 classic – tuned to 420hp and 630Nm…. Read the rest of this entry →