Swedish Court Extends GMs Saab Restructure Deadline To Aug 20
29 Mai 2009 - 9:35AM
Dow Jones News
A Swedish court approved an extension to Saab Automobile AB's
reconstruction period Friday, as the Swedish carmaker attempts to
avoid bankruptcy as it breaks free from current owner General
Motors Corp. (GM) of the U.S.
Vanersborg District Court in southwestern Sweden extended the
reorganization period for three months until Aug. 20.
Saab was granted protection from creditors in February, similar
to Chapter 11 protection in the U.S., with the aim of reorganizing
itself in a bid to become profitable.
-By Ola Kinnander and Ian Edmondson, Dow Jones Newswires;
+46-8-5451-3094; ian.edmondson@dowjones.com