Saab dealers in the U.S. seek fair compensation in bankruptcy

Article by Christian A., on December 20, 2011

A Swedish court has granted Saab’s bankruptcy petition and has appointed two receivers to administer the carmaker’s assets. Severely affected are dealers, including 188 in the U.S., who hope to get compensation for their losses. They were informed of Saab’s liquidation on a conference call with Tim Colbeck, COO of Saab Cars North America.

“A lot of jobs at the dealer level are going to be lost,” said Kurt Schirm, chairman of the Saab National Dealer Council.

Bernie Moreno, dealer principal of Saab of North Olmstead, Ohio, said dealers have to wait for further directions before they can receive payments.

Saab is waiting for the Swedish court for directions for its liquidation. The national dealer council is currently working with NADA to determine their customer liability.

The council is finding ways to secure dealer network's assets to get compensation on possible losses. Dealers intend to file a suit against Saab, depending on the available assets to fund the claims. [source: Autonews]

If you liked the article, share on:

Comments

Recommended

BMW saw a potential oil leak on the new M760Li, prompting them to recall the said vehicle last April. Today, a little over two months after issuing the first recall,...
by - June 28, 2017
Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries