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

  • Audi Q2 1.4 TFSI 150 S tronic
    First Drive
    29 May 2016
    We head to Havana to find out how the new Audi Q2 is shaping up ahead of its November launch
  • Seat Leon 1.4 EcoTSI FR Titanium
    First Drive
    27 May 2016
    High-spec new Titanium FR trim is temptingly good value, particularly on the semi-enthusiastic 1.4 EcoTSI petrol
  • Kia Niro
    First Drive
    27 May 2016
    The Kia Niro will be one of the greenest cars in the compact crossover class when it goes on sale later this year. We drive it to see what else it has to offer
  • Car review
    27 May 2016
    Can the turbocharged successor to the 458 raise the bar again?
  • Car review
    27 May 2016
    The big-in-every-way Bentley SUV lands. We assess the impact