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Trollhättan, Sweden: Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and Saab Automobile Powertrain AB (collectively Saab Automobile) have officially disputed the bankruptcy filings by two Swedish unions with the District Court in Vänersborg, Sweden.
Both companies argue 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 regulatory approval is expected in November. 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´s Saab Automobile´s application for voluntary reorganization.
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