Saab liquidators sit on hands, ready to move out

TTELA have a good story in today’s paper, speaking about the actions (not) being taken by the liquidators appointed by GM to administer the wind down of Saab.

Saab, of course, is still under the legal control of the liquidators until the sale transaction is closed on Monday, February 15. Maybe they’ll be inundated with flowers by the locals on Valentine’s Day, just before they leave?

Cue the Googletrans


The liquidators ready to step aside

Spykers purchase of Saab may soon be done. But in the meantime, Saab is still headed by its liquidators.

– We are still formally at the front of the company,” says Peter Törngren, one of Saab’s liquidators.

It was 12 January when Peter Törngren was appointed liquidator Saab with the Englishman Stephen Taylor. At the moment, the settlement decision is still hanging heavily over the Saab.

Peter Törngren admits that it is a very special case.

– We must say that it is an unusual situation, to which a liquidator and make sure to follow the legal requirements (on the liquidation, prepared notes), and as far as possible, giving the company the opportunity to move forward. But this entire process, including reorganization, has been quite unusual, “said Peter Törngren.

He takes care of the formal and legal issues, and spend approximately two days a week in Trollhättan. My colleague, Stephen Taylor, who has the operational responsibility, “is in [Trollhattan] all the time.”

Around them are still Saab’s Senior Management, points out Peter Törngren.

– We need the expertise available. The difference is that normally comes all power from the Board, will now power from the liquidators,” he says.

Double-track for the liquidators have meant that they turn down the activity on the backburner. At the same time, it was important not to do things that you cannot reverse, given Saab’s future life.

If all goes as intended, Spyker will acquire Saab this month. February 15 has been mentioned as a possible date. Then walk Saab from the liquidation and the need for liquidators ceases.

– It is the day the deal closed.

And Peter Törngren do not mind the mission of the Saab will be shorter than originally intended.

– I think it’s good for the company and staff. There is a tremendous spirit in the organization. It feels really great, while it should be remembered that we are not in the target than, say Törngren.

Spyker Cars statement late on Monday night, taking a convertible loan of approximately SEK 185 million of Dutch Heerema Holding, was welcomed yesterday. The loan will cover one third of the price of GM. The alternative, to bring in money from the U.S. fund company, GEM, has previously faced criticism.

Now the share price has risen and Dutch share investors association VEB is satisfied.

– Heerema is a serious company in the offshore industry. We do not know much about the economy in that it is not listed. But we prefer Heerema in GEM, which is an aggressive hedge fund that takes well paid for their investments, “says Patrick Beijersbergen, chief economist at VEB, to TT.

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