Saab to get the green light from creditors

I don’t think this was/is much of a worry, but it’s news. And unlike the last story, it’s current, too *blush*
As I understand it, Saab’s ‘composition’ proposal has to be agreed to by 75% of their creditors.
Dagens Industri has done a quick whip around and envisage no problems prior to the deadline for agreement on June 17.
ctm has the highlights for us:

  • Time for creditor meeting on Wednesday next week.
  • More than half have agreed on writing down debts and getting only 25%.
  • To pass the meeting next week, at least 75% have to agree.
  • The paper did an informal check and didn’t find any opposed.
  • “We supply Saab with parts, make money on that, and don’t want to put Saab into bankruptcy. What would we gain by doing that?” is one reply.
  • Only the Swedish Tax Agency, representing the State’s claims, is opposed. They want to see an owner first.

I guess the need to see the new owner means that the decision is unlikely to be delayed beyond that point.
Whether we’ll know the outcome by then is another matter.
It’s good to hear another milestone in this process is likely to be passed without incident.

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