Update: 14: 36
Next week, or the next 10 days, will be exciting for Saab. Because we have a tight schedule. On Monday, the Court of Appeals in Gothenburg wants to decide on the reconstruction application. If a positive decision comes from there, then Saab could flee under state protection over the next week.
If the court decides against it, Victor Muller will go to the next instance. Because on 26.09/26.09 the bankruptcy filings of the unions are being negotiated and that could be tight. When it comes to that, because also on September 70th, the € 70 million from Lotus Youngman should be in the accounts. Saab would be liquid and could pay the salaries. The union's bankruptcy petition would be invalid. The € XNUMX million would be enough to survive with "water and bread", according to Victor Muller, until the Chinese entered the market.
Yesterday a new word not heard before came up. It came from Lotus Youngman and is called "lapel reconstruction". So this is what it is all about. Youngman stands by investing in Saab Automobile. However, if the entry is delayed due to time factors, you can apply for a subsequent reconstruction and implement it despite bankruptcy proceedings. New territory for me, but it shows that the Chinese are fully behind Saab.
A side note from Germany, or Aschaffenburg, where Takata Petri sits. Today, the steering wheel manufacturer has filed a bankruptcy petition against Saab with its daughters in Poland and Romania. It's about 1.9 million €. In principle irrelevant, since it does not change the current situation.
A press release from IF Metal union is just fluttering into my mailbox. At 20.09, 14: 00 will face bankruptcy petition against Saab Automobile, writes the union. If the appeal court decides negatively on Monday, that would be the logical way. But, according to the union, Saab deserves a fair chance and it's a positive decision.
Finally, let's take a look at the share. In Amsterdam, “Swedish Automobile” is quoted around 0,99 cents and is unsure whether or not to take the € 1 hurdle. Anyone who bought at the absolute low of 0,35 cents has made a good cut. If he kept his nerve. 😉
So, enough business news for this week, the weather is too fine. Tomorrow and on Sunday there will be purely “Saabige” topics.
Have a good weekend.
Keep on Saabing and take care!