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

  • Car review
    21 October 2016
    Can Seat’s first SUV impress, even with the heavy burden of expectation?
  • Car review
    21 October 2016
    The last hurrah for the current Aston Martin Vantage adds the track-ready GT8 to the range
  • Audi S5 Sportback
    First Drive
    20 October 2016
    New S5 Sportback is more spacious, better to drive and offers a calmer ride than before, but rivals offer greater involvement
  • Renault Clio RS 220 Trophy
    First Drive
    19 October 2016
    Mildly revised hot hatch is enjoyable on UK roads but continues to play second fiddle to the Ford Fiesta ST
  • 2016 Smart fortwo Brabus cabrio xclusive
    First Drive
    18 October 2016
    Mechanical upgrades make the Smart Fortwo Brabus cabrio better to drive, but it’s too pricey to recommend