Lars Soderqvist is Saab’s new administrator

Article by Christian A., on December 17, 2011

Saab was taken aback and had to immediately name who its new administrator would be after lawyer Lars-Henrik Andersson turned down the offer to replace Guy Lofalk. Instead, Lars Soderqvist of law firm Hokerberg & Soderqvist will take on the role. Last Thursday, Saab confirmed that Andersson rejected the post.

Lofalk had chosen to quit, according to Saab. But media reports indicate that Victor Muller, who heads Swedish Automobile (the owner of Saab) wanted Lofalk to leave.

A court in Vanersborg, Sweden, will make its ruling on Monday on whether Saab will be allowed to stay in a scheme that protects it from creditors while it works to finalize an agreement with Chinese investor Zhejiang Youngman Lotus Automobile Co.

Just last week, Lofalk urged the court to end creditor protection since Saab, which is owned by Dutch-listed Swedish Automobile, had run out of money.

Last Tuesday, Muller said that Saab had gotten a first payment of 3.4 million euros from Youngman in order to survive. However, it requires more funding so that the wages of its employees would be paid and production would resume. [source: Reuters]

Topics: saab

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