Plans can be that easy. But plans can fail if an important building block is missing. An almost legendary component of the reconstruction are the 70 millions of royalties that should come from Lotus Youngman from China.
The license payments for the non-exclusive use of the PhoeniX platform was one of the rabbits that conjures up Victor Muller from time to time from his hat. Since no payment from China has arrived at Saab to this day, the reconstruction could be canceled or interrupted today.
During a reconstruction, the company is not allowed to build up new debts, the reconstruction business must be covered by the current revenues. These trickle sparse to our car manufacturer in the stablebacka. Another date is the 20. October. On this day ends the state wage guarantee, from the 21.10 Saab must pay the wages themselves. Without the money from China impossible, the reconstruction would be a farce.
That's why Guy Loflak, the court-appointed administrator, thinks about ending the reconstruction today. And he thinks quite loudly, publicly in the press. Stop, out, over. The consequences would be fatal.
Rachel Pang of Lotus Youngman was in Stockholm yesterday to discuss the contracts. There seems to be some passages in the agreements that our Chinese friends do not like. Either way, either the money comes or it just does not come.
A new administrator?
At Saab, dissatisfaction with Guy Lofalk increases. Supposedly one is not happy with the attempt to replace the EIB loan, instead of waiting for the money from China. Apparently you do not want the state as a shareholder. Therefore, Saab today wants to apply to the local court for a replacement of the administrator.
Brisant only, the administrator you would like to dispose of, was a prime candidate of the car maker. Christina Geers had suggested Guy Lofalk, the court had accepted the proposal.
In principle, it is possible to replace the administrator, in the misery in Trollhättan changes little. Everything depends on the money from China. Even if there should be more interesting, deadline is 20. October.
There is a lot of politics and a lot of self-interest in this drama. I think so too, a test of power by various parties, including Victor Muller. The bill in this game pays, as always, Saab. The last porcelain is now smashed by force and Saab dominated again the negative headlines. Currently in Sweden, until the evening it goes around the world again.
Maybe it's just a lot of smoke and little fire. If and how we, rather Saab, come out of this story, well, that is not even known the famous crystal ball.
Positive thinking is difficult for a blogger in month X of the crisis itself. Anyway, we stay tuned.