Saab US Dealers Ask For SCNA Chapter 11 Protection

Take this as a good sign, today 41 US dealers asked a judge for Chapter 11 protection which would allow them greater involvement in a liquidation and to preserve whatever structure they can in case a bid for the entire company is accepted. Automotive News published an article today explaining the situation with quotes from the dealer group’s attorney Leonard Bellavia. He is representing 162 of the 188 US dealers in the bankruptcy proceedings.

“We filed a [Chapter] 11 just in case a white knight comes out of nowhere and buys Saab’s parent,” he told Rick Kranz of Automotive News. In the US, a Chapter 11 differs from a Chapter 7 in a few key areas. He explains it in his statement on behalf of the dealers today.

Read moreSaab US Dealers Ask For SCNA Chapter 11 Protection

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