STOCKHOLM - the owner of the coffers of automaker, on Wednesday in a last-ditch effort to save Saab for protection submitted a mark, debts crippled production losses, salary payments and to assemble withheld.
Swedish car, formerly known as Spyker cars, Saab and its subsidiaries, the Powertrain, and tools in the application for a realignment of voluntary and "self-managed" said filed that were included on a local court in the southwest of Sweden. Overseas units were excluded.
The Court and Saab of the creditor must, a phase of the first three months would court all collection operations managed reorganisation debts as well as the possible bankruptcy stop submissions. Some of the Saab of creditors have threatened to it into bankruptcy in their problems on paying suppliers and employees.
The Netherlands-based Spykers cars changed its name in Swedish car after the decision to focus only on the Saab brand. Under the direction of Dutch businessman Victor Muller, the company could the loss-making brand since he in 2010 from General Motors co., which was to revive it when the disassembly.
Suppliers of parts forced Sweden to suspend production at its plant in Trollhattan, for non-payment. Salary payments for many of the Saab deteriorated in recent months as liquidity shifted 3,700 workers crisis. These salaries are among the Swedish state wage guarantee scheme for aim.
The application for bankruptcy protection for cost reduction and "Creating a viable, competitive and independent organization" calls, said Swedish car.
"The ultimate purpose of the proposed voluntary reorganization to secure short-term stability while at the same time attracting additional resources," said the company.
Saab hopes cash injections by Chinese investors Zhejiang Youngman Lotus Automobile Co. and Pang da automobile trade co. The offers include the production and distribution of Saab cars in China, but due to the pending approvals by authorities have been delayed.
Muller, the CEO of Saab and Swedish car, said that "a voluntary reorganization is the time required, the protection and stabilization of business us." so that salary payments made to obtain short-term financing and prepared an ordered restart of production
He warned that the process to "Results in a number of difficult issues and decisions", but added that he believes that Saab put great confidence to the future cash Pang da and Youngman expects as a stronger and leaner car finished.
Darko Davidovic, union legal advisor for IF metal represents approximately 1,500 Saab workers, welcomed the move. He said "it the fastest four of our members, their money to get, unless the company pays itself," the associated press. "All alternative worse," the payment would have had on a possible bankruptcy.
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