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Re: Another "Down To The Wire" finish... Posted by JohnA [Email] (#426) [Profile/Gallery] (more from JohnA) on Fri, 16 Sep 2011 06:24:20 In Reply to: Re: Another "Down To The Wire" finish..., SWEDECAR [Profile/Gallery] , Thu, 15 Sep 2011 15:17:11 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Agreed. This is very much a day-to-day thing now.
Witness the article linked below from Reuters.
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Out-take:
"The Appeal court said on Friday that a decision whether to allow Saab another hearing would be taken at the earliest on Monday next week.
If it cannot appeal, bankruptcy looks unavoidable for Saab.
Saab wants creditor protection to give it time until a promised investment of 245 million euros from car firms Pangda Automobile Trade Co Ltd and Zhejiang Youngman Lotus Automobile gets the nod from Chinese authorities.
Saab said it expects approval to come in November.
The question is whether the 60 year-old carmaker can survive that long.
Although Saab secured a promise of 70 million euros ($96 million) in vital financing at the start of the week, the money is not enough to cover unpaid wages and its debts so suppliers -- estimated at 150 million euros.
Bankruptcy hearings will start on September 26 and are expected to last three to five weeks. "
Supplier seeks Saab bankruptcy - court
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