The adminstrator overseeing Saab's affairs looks set to quit his post, it has been reported

Saab’s battle against financial ruin has taken another twist with the news that the firm’s court-appointed administrator is set to quit his post.

Guy Lofalk was installed to oversee Saab as the company went through the process of reorganisation that is currently protecting it from creditors as it tries to put a sound financial plan in place for the future.

But last week Lofalk applied to the Swedish court to have Saab taken out of reorganisation, a move that would almost certainly lead the company being declared bankrupt.

In response, Saab said it would push for reorganisation to continue and request that Lofalk should be replaced as administrator – but it now appears that he wants to walk away of his own accord.

A statement on the website of Vanersborg District Court said: “The Saab companies and Guy Lofalk have jointly requested that Guy Lofalk will be dismissed as administrator and that lawyer Lars-Henrik Andersson is appointed as a new administrator”.

The court was originally due to decide tomorrow (Friday) whether to approve Lofalk’s application to end the reorganisation process, but that hearing has now been pushed back to Monday. Andersson could be installed as the new administrator at the same meeting.

Earlier this week Saab’s parent company Swedish Automobile (Swan), confirmed that it had received a much-needed cash injection from one of the Chinese investors that is interested in taking a stake in the firm.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    27 March 2015
    Lavishly-equipped, rugged-looking Peugeot 508 estate is a pleasant drive, but there are many more recommendable alternatives
  • 308 GT 1.6-litre petrol is priced from £24,095
    First Drive
    27 March 2015
    Peugeot's given the 308 the engine from the 208 GTi 30th and some chassis upgrades; we find out if the changes bring a bit of old-school Peugeot hot-hatch magic to this likeable family hatch.
  • Car review
    26 March 2015
    Does Suzuki's new city runabout have what it takes to succeed?
  • First Drive
    26 March 2015
    Collins Performance has given the Fiesta ST 270bhp and 265lb ft, but has our favourite fast Ford been ruined in the process?
  • First Drive
    26 March 2015
    The Seat Leon X-Perience is the closest thing to an SUV that you can buy with a Seat badge for now, blending estate practicality with off-road ability