"The appeals court reverses the district court ruling and allows Saab … to reorganise," the Appeals Court for Western Sweden said in its decision.
The ruling places on hold thousands of individual requests that Saab be declared bankrupt by company employees and union members who have yet to receive their August wages.
It also makes it possible for Saab's around 3,700 employees to receive their salaries.
Saab also has towers of unpaid bills from suppliers, some of which have also requested it be placed in bankruptcy.
The appeals court said the district court's finding that Saab was lacking in the goodwill and brand strength needed for the reorganisation to succeed was unfounded and gave the company three months to turn itself around.
"In this case, the appeals court deems that a more in-depth probe could show that there is a basis for a successful reorganisation," it said.
After 12 weeks, the bankruptcy protection would be lifted if no extension request had been filed and granted, it said.
Saab's Dutch parent company Swedish Automobile has argued it only needs to keep its creditors at bay until regulatory approval goes through for its anticipated cash injection of €245 million ($335 million) from its
Chinese partners Pang Da and Youngman.
The ruling places on hold thousands of individual requests that Saab be declared bankrupt by company employees and union members who have yet to receive their August wages.
It also makes it possible for Saab's around 3,700 employees to receive their salaries.
Saab also has towers of unpaid bills from suppliers, some of which have also requested it be placed in bankruptcy.
The appeals court said the district court's finding that Saab was lacking in the goodwill and brand strength needed for the reorganisation to succeed was unfounded and gave the company three months to turn itself around.
"In this case, the appeals court deems that a more in-depth probe could show that there is a basis for a successful reorganisation," it said.
After 12 weeks, the bankruptcy protection would be lifted if no extension request had been filed and granted, it said.
Saab's Dutch parent company Swedish Automobile has argued it only needs to keep its creditors at bay until regulatory approval goes through for its anticipated cash injection of €245 million ($335 million) from its
Chinese partners Pang Da and Youngman.
"La cour d'appel renverse la décision du tribunal de district et permet de réorganiser Saab ...» a déclaré la Cour d'appel de Suède à Göteborg .
La décision trouvera son champ d'application auprès des milliers de demandes individuelles formulées auprès de Saab par les salariés et les membres du syndicat qui n'ont pas encore reçu leur salaire d'août.
Il rend également possible pour Saab environ 3.700 employés de recevoir leurs salaires.
Saab a également des factures impayées auprès de fournisseurs, dont certains ont aussi demandé que Saab soit mis en faillite.
La cour d'appel a déclaré que le tribunal de district s'appuyant sur le fait que Saab manquait de bonne volonté et de force nécessaire pour la réorganisation a jugé ces motivations infondées et a donné à la compagnie trois mois pour se redresser.
"Dans ce cas, la cour d'appel estime qu'une enquête plus approfondie pouvait montrer qu'il existe une base pour une réorganisation réussie".
Après 12 semaines, la protection contre la faillite sera levée si aucune demande de prolongation avait été déposée et accordée.
Saab Automobiles Néerlandais société mère suédoise a fait valoir qu'il n'a besoin que de garder à distance ses créanciers jusqu'à l'approbation réglementaire pour l' injection de liquidités prévues de 245 € millions (335 millions de dollars) de ses
Partenaires chinois Pang Da et Youngman.
Source thelocal.se
Aucun commentaire :
Enregistrer un commentaire