Sweden’s District Court of Vänersborg, has approved an extension of National Electric Vehicle Sweden’s (NEVS) reorganisation for a further three months to 29 May.
Last month, NEVS said said it could settle debts with 469 of its 573 creditors in a ‘composition’ arrangement that could see the remainder paid half of what they are owed.
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NEVS is currently engaged in a complex series of negotiations with an unnamed potential future investor – although talks are dragging surrounding any use of the Saab name – while the current owner – National Modern Energy Holdings (NMEH) – is looking to extricate the Swedish automaker from its current predicament.
