Post Tagged with: "liquidation"

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Italy region to sell troubled sports-car maker De Tomaso

Italy region to sell troubled sports-car maker De Tomaso

The Italian region of Piedmont has initiated contacts with several automobile manufacturers, including BMW, to discuss the sale of troubled sports-car maker De Tomaso, a trade union said in a statement on Tuesday. The union noted that any deal for De Tomaso “is hypothetical, for now.” “BMW has no interest […]

Old GM officially dead

Old GM officially dead

General Motors Corporation was shut down on December 15 2011, 103 years after if was founded. The „Old GM”, as it was known after the 2009 government bailout founded the new GM, was officially dissolved on Thursday, spokesman Tim Yost confirmed the following day to the Detroit News. On Friday […]

Official: Saab will appeal against Court

Official: Saab will appeal against Court

Swedish Automobile NV, the owner of the 64-year-old Saab car brand, said Friday it aims to submit on Monday an appeal against a court ruling that rejected Saab’s proposal for bankruptcy protection. Swedish Automobile N.V. (Swan) announces that Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab […]

Saab end near: Court denies Saab creditor protection

Saab end near: Court denies Saab creditor protection

Saab’s application for protection from its creditors has been rejected by a Swedish court, the automaker said in a statement on Thursday, which means that liquidation may be its only option. “The Vaenersborgs district court has today decided to reject Saab’s … request for a voluntary reorganisation process,” the court […]

Sauber, Lauda sponsor in financial strife – reports

Sauber, Lauda sponsor in financial strife – reports

(Inautonews.com/GMM) A sponsor of the Sauber team is in financial trouble, according to German-language reports. The Austrian newspaper Die Presse said the owner and founder of the Liechtenstein based Money Service Group has left the company, ostensibly for health reasons, as partners complain that their invoices are not being paid. […]