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]

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