STOCKHOLM Dec 16 Saab's fight for
survival took another unexpected turn on Friday when a court
refused to allow the ailing carmaker's administrator to quit his
job just days ahead of a hearing that may decide the company's
The Vanersborg court is due to decide on Monday whether to
keep Saab in a scheme which grants it protection from creditors
while it secures itself a stable future.
The court said it was too late to dismiss current
administrator Guy Lofalk, rejecting requests from Saab and
Lofalk himself for him to be relieved of his duties.
"With regard also to the short time remaining until the
matter will be tested ... the district court assesses that there
are insufficient grounds to immediately dismiss Lofalk," the
court said in a document.
Lofalk had earlier this month requested the court call time
on Saab's creditor protection because the company, owned by
Dutch-listed Swedish Automobile, had run out of money.
Saab, one of Sweden's best-known brands, has been teetering
on the edge of collapse since early this year when a cash crunch
forced it to halt production.
The company had named a new administrator to replace Lofalk
earlier this week, only to suffer the embarrassment of having to
name another person to take the role after the preferred
candidate subsequently turned down the position.
Saab had said on Tuesday it got a payment from China's
Zhejiang Youngman Lotus Automobile, which wants to take a stake
in the firm. But more funding is necessary to pay staff and
suppliers and get production up and running again.
(Reporting by Daniel Dickson)