Saab and its Powertrain affiliate are officially contesting bankruptcy filings by two Swedish unions, but insist the move is a normal decision in the circumstances.
The Unionen and Ledarnea labour bodies filed for Saab’s bankruptcy with a hearing due for 26 September, while the automaker’s largest blue-collar representative IF Metall, formal submitted its application today (20 September).
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“This is not a reaction to the unions, it is an answer to the Court which has given the question to Saab,” a Saab spokeswoman in Sweden told just-auto. “The unions [have] gone to the Court because that is their role and we have full respect for their role.
“The District Court at Vanersborg asked us for our view on the situation – this dispute is a reaction to a document we have to send back. Saab has chosen to dispute it based on the reason our liquidity problems are temporary. It provides a basis for the discussion on Monday [26 September]. Here, we can have a debate that acknowledges everything that is going on.”
Saab and Saab Powertrain maintain they are not insolvent and have only temporary liquidity problems which they expect to solve following the planned equity contributions by Pang Da and Youngman, for which they say regulatory approval is expected in November.
A statement from the manufacturer noted: “Saab Automobile continues to await the decision of the Court of Appeal in Gothenburg on the company’s appeal against the decision by the District Court to reject Saab Automobile’s application for voluntary reorganisation.”
IF Metall legal advisor Darko Davidovic told just-auto today it had no choice but to apply for the automaker’s bankruptcy as its members continue to be owed August salaries totalling SEK33m (US$4.9m), although any decision by the Appeal Court could potentially change the situation.
