Request to terminate reconstruction withdrawn *Updated

The court issued a press release today stating that Guy Lofalk has withdrawn his petition to end the reconstruction phase. The scheduled meeting with the creditors October 31st 10am will be held.

“(…)Pang Da and Youngman will finance the reconstruction as well as the business plan.” writes Guy Lofalk. “(…)this must be looked into before making a decision to terminate the reconstruction”

From TimR:
Yesterday evening, news reached SU from a secure source that the sales price is supposed to be 100 million euros for 100% of the company. The request from Lofalk confirms this development.

14 thoughts on “Request to terminate reconstruction withdrawn *Updated”

  1. Yes! 🙂 I hope this means that things are finally unfolding. The sooner this uncertainty ends, the better. Saab needs to fight bimers, not liquidity.

  2. That’s not much money at all, £90 million uk, last months Euro Millions winner could have bought it twice, maybe a new 9-5 SW (or SC as everyone else calls them) is safe after all, but the minute I see the Chinafication of the business/production/design my money is going elsewhere.

      • But the Chinese also know that not enough people around the world wanted a “Saab” Saab. Hopefully, at the very least, the Castriota 9-3 will see the light of day, even if future products are not so focussed on the historical core values.

  3. From the press release
    “An important consideration for Swan to enter into the transaction is the commitment of Pang Da and Youngman to provide long term funding to Saab Automobile.”

    We all know who we should thank for that!

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