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Saab in New York?

posted by Stephen Lubben

So the Swedish court's decision to deny Saab's reorganization petition gets me wondering if the company might not decide to file a US chapter 11 case. The only problem is that, best I can tell, Sweden has no provision for recognizing a foreign insolvency proceeding domestically. Thus, like most of these foreign chapter 11 cases, the proceedings would only bind international creditors (i.e., financial institutions) and that may not be enough to solve Saab's problems.

They should have never given up on those hatchbacks.

Comments

I make a lot of dough at a high tech job
Yeah, sure you bet, I drive a turbo saab. . . .

Bill Morrissey, Car and Driver

http://www.youtube.com/watch?v=YevrGtidvpM

I hope Credit Slips will be giving us frequent blog posts on the recent bankruptcy case of Solyndra.

Crotchety old guy says that they never should have given up on the old two strokes.

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