Saab: Lars Soderqvist appointed as the new administrator image

Following the announcement that the company is seeking for a new administrator, Sweden’s Vanersborg District Court said Lars Soderqvist of law firm Hokerberg & Soderqvist will take the key role.

The appointment comes days ahead of a court decision that could push Saab closer to bankruptcy.
Last week Guy Lofalk said that Saab’s owner, Swedish Automobile, has failed to deliver sufficient bridge financing to cover costs during the reorganization.

Lofalk said this is partly because of “General Motors’ categorical no to contributing to any proposal that has been presented to them so far, despite the fact the parties have stayed within the framework of demands in existing contracts.”

The CEO of Saab owner Swedish Automobile, Victor Muller, told media this week that it has received $3.4m euros ($4.4 million) from a Chinese company, Zhejiang Youngman Lotus Automobiles, which is looking to invest in the brand.