Arab Today, arab today us unit of saab will try to avoid bankruptcy
Last Updated : GMT 03:56:59
Arab Today, arab today
Arab Today, arab today

US unit of Saab will try to avoid bankruptcy

Arab Today, arab today

Arab Today, arab today US unit of Saab will try to avoid bankruptcy

London - AFP

The North American unit of bankrupt Swedish automaker Saab will try to avoid going into bankruptcy itself to keep up warranties for recent car buyers and support dealers left with inventory, a company official said Wednesday. Tim Colbeck, president of Saab Cars North America, based outside of Detroit, said in a telephone interview that the unit has hired consultants to avoid creditors forcing them into filing for bankruptcy protection while they sort out what can be done with remaining assets. \"We hope to avoid filing for bankruptcy,\" he said. The consultants, McTevia & Associates, will sort out and organize the claims SCNA is facing and figure out an equitable way to deal with them, Colbeck said. He declined to say what kind of assets there were, but he said SCNA hoped to reinstate the warranties of car owners who bought Saabs before 2010 while it was still controlled by General Motors. Colbeck said SCNA has been overwhelmed with calls and messages from Saab owners who are in despair over the company\'s shutdown. \"There is a lot of emotion,\" he said. Saab Automobile filed for bankruptcy on Monday, bringing to an end two years of efforts to rescue the iconic brand which has been the hallmark of Swedish cars for six decades. Meanwhile, GM has confirmed it has set aside $100 million in special reserve to deal with claims that could arise from the collapse of Saab. The reserve will be used mainly to settle the claims of suppliers who might have made parts for the 2012 Saab 94-X, which GM had planned to build for the company in Mexico. Saab\'s bankruptcy filing in Sweden, devalued the franchises of Saab dealers in the United States and Canada and left thousands of owners without warranty coverage if they bought a new Saab after March, 2010, after its sale to Spyker Cars of the Netherlands was finalized.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us unit of saab will try to avoid bankruptcy Arab Today, arab today us unit of saab will try to avoid bankruptcy

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us unit of saab will try to avoid bankruptcy Arab Today, arab today us unit of saab will try to avoid bankruptcy

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday