12/22/11

Saab North America Appoints Outside Administrator, Searches for Ways to Honor Warranties


All those months that the Saab saga was unfolding before our eyes, the Swedish carmaker’s North American operations were excluded from any deal or restructuring plan.
Now the parent company is seemingly closing shop after Monday’s filing for bankruptcy and the appointment of two receivers who, unless something dramatic occurs, will oversee the company’s liquidation.
Saab Cars North America wants to avoid being declared bankrupt or liquidated. Therefore its Chief Operating Officer, Tim Colbeck, announced on Wednesday, December 21, that the company has appointed McTevia & Accociates, a specialist in corporate turnarounds, as an outside administrator.

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