bankruptcy

Guy Lofalk, the court-appointed administrator of Saab’s reorganization process, has revealed that he’s sent a letter to the Swedish court on Thursday requesting that the whole process be terminated. The revelation comes less than 24 hours after Saab announced it would be receiving some...

Saab has announced today that it has received a commitment from American private equity firm North Street Capital for a cash payment before the October 22 deadline to pay off part of its bridge loans, once again helping the struggling automaker stave off bankruptcy. The cash will be awarded to Saab...

Update: Earlier this week news broke that Saab's Chinese partners would be blocked from their bid to give the Swedish automaker a much-need cash infusion. Today, Saab has responded with a statement that says the reports were misinformed, and that it has received a first payment by China's Youngman...

It wasn't so long ago that talk of Spyker buying, and thereby saving, Saab was the hot news. Since then, the Dutch supercar company has reorganized things, keeping Saab and Spyker separate, while setting the whole thing up under the umbrella of Swedish Automobile. Things haven't gone all that well...

Saab’s cash crunch is nothing new, but the matter is finally coming to a head. The car maker’s first bankruptcy hearing is scheduled for September 26. In the meantime, it’s business as usual for Saab. Lately, that has been less about turning out autos or paying its workers than it...

After months of failed funding negations and ceased production, Saab, along with its Saab Powertrain and Saab Tools subsidiaries, announced this week that it had filed for voluntary bankruptcy protection with the District Court in Vanersborg, Sweden. However, the court has rejected Saab’s...

Saab has taken yet another step, this time a major one, towards what’s shaping up to be an inevitable bankruptcy, with news coming out today that the struggling Swedish automaker posted a $322 million loss for the first six months of 2011. The latest figure is four times the amount Saab lost...

Saab is said to be seeking a court order to protect it from creditors, and will likely enter into a reorganizational bankruptcy according to reports from Swedish public radio.

Despite its best efforts to raise funds, the death knell is ringing for Saab, with news coming out today that Sweden's Debt Enforcement Agency has commenced collection proceeding against the automaker following Tuesday’s deadline for payments to suppliers. The agency is in the process of...

Saab has issued a new allotment of shares, roughly 17 percent of the company, to investment group GEM Global Yield Fund Limited.

Saab looks to be almost back in business, with the automaker announcing this week the finalization of yet another cash injection deal as well as a tentative August date for the restart of production at its main plant in Trollhattan, Sweden. Saab has announced that it has obtained final approval...

Yesterday we reported that Saab would receive $18.4 million by the end of this week from a mystery Chinese firm that ordered a total of 582 of its cars, allowing the financially stricken automaker to pay its employees’ wages and stave off a potential bankruptcy. Today, we have news that Saab...

Late last week it was revealed that Saab couldn’t afford to pay its workers’ salaries and without any hope of a sudden inflow of cash would be forced into bankruptcy. Now, just several days on since that grim report it has been revealed that yet another Chinese party, this time...

Saab’s recent announcements of partnerships with Chinese firms Zhejian Youngman Lotus Automobile and Pang Da Automobile has done little for its money woes, with the automaker announcing this week in a formal statement that it won’t be able to pay its employees’ wages due to a lack...

The last we heard, production at Saab’s plants back home in Sweden had come to a halt due to a lack of funds and fears that the automaker’s new parent, Spyker Cars, was also close to being bankrupt. In response, the CEO of Spyker, Victor Muller, set out on a quest to acquire desperately...

New Jersey Motorsports Park (NJMP) isn't a headlining NASCAR venue or even one of America's great road courses, but it was the site of the inaugural U.S. RallyCross event, and it plays host to dozens of motorcycle and car track days each year--as well as the occasional vehicle launch. Today, NJMP...

The U.K.'s Bristol Cars may not be on the tip of every wagging social media tongue these days, especially here in the U.S., but it has produced some remarkable cars over the years. Unfortunately, unless it finds an angel to keep it going, it may be going under. Bristol has entered administration...

GM has confirmed that it intends to start making payments for the respective U.S., Canada, Ontario and Germany government loans next quarter.

General Motors' recent bankruptcy proceedings have seen the company transformed as it leaves behind failing assets, and according to the company these changes have also been reflected through a restructured board of directors. Five new members have been added to the board following the bankruptcy...

Lighter, smaller, quicker and more responsive to customer needs - that's how the new General Motors Company is comparing itself to the now-defunct General Motors Corporation it replaces. Today's emergence from bankruptcy - just 40 days after it went in - marks the start of what the new GM hopes...