("Saab's Creditors May Seal Company's Fate Monday," published Sunday April 5 at 1541 GMT incorrectly referred to Swedish aerospace and defense company Saab AB. The corrected version follows.)

STOCKHOLM (AFP)--Creditors may seal the fate of beleaguered Swedish car maker Saab Automobile AB Monday when they gather for a court hearing to determine if the group's legal restructuring process can continue.

Some 1,300 creditors have been summoned to the hearing in the Vaenersborg district court in southwestern Sweden, Swedish news agency TT reports.

The company's days could be numbered if any one of them opposes the restructuring process that Saab launched on Feb. 20 to stave off bankruptcy and become an independent unit after it was dumped by its owner U.S. car maker General Motors Corp. (GM).

"If a creditor demands (that the restructuring process be halted), the court has to decide whether to do so," one of the court's three judges, Cecilia Tisell, told TT.

The court's decision would then be based on whether Saab's survival plan looks realistic.

"We can halt the restructuring process if we find that the aim is not being achieved," she said.

Should the court find against Saab, the company would either have to declare bankruptcy or find a buyer.

The reorganization is a Swedish legal process headed by an independent administrator appointed by the court who is working with Saab management.

The process allows parts of Saab to survive and could enable suppliers, who would lose all the money owed them by the company if it filed for bankruptcy, to get some money back by agreeing to accept partial repayment.

GM, which bought 50% of Saab in 1990 and acquired the rest 10 years later, has washed its hands of the unit after years of losses, and has called on the Swedish government to step up and rescue it.

But Stockholm has sharply criticized GM's decision to let Saab go, and has repeatedly stated that it will not take over the car maker.

Saab employs about 4,100 people in Sweden. Including suppliers, 15,000 jobs in the Scandinavian country are believed to be at risk if the unit disappears.