Swedish Automobile to Change Name back to Spyker image

Swedish Automobile has announced it will change its name back to Spyker, pending approval from its shareholders, effective April 18.

Per 18 April 2012, the company shall be listed as Spyker N.V. Its ISIN code changes to NL0010125050, its ticker symbol to SPYKR.

It is unclear if this has to do something with Saab. A decision on the liquidation of the former automaker’s assets is expected later this month, and things don’t look promising for Saab’s creditors.

The value of bankrupt Saab Automobile’s assets covers less than a third of its debts and only some preferential creditors will get any money back, the company’s trustees said Tuesday.

A summary of Saab’s estate inventory published Tuesday shows the company has debts of 13 billion kronor ($1.9 billion) and assets worth only around 3.6 billion kronor ($532 million).
Tuesday’s report came as the deadline to place bids for Saab, which filed for bankruptcy in December, expired.

The Trollhattan company halted production a year ago and spent much of the remainder of the year trying to raise new cash. But one-by-one, its rescue plans fizzled as potential investors either walked away or were blocked.