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Saab administrator to quit amid disagreement
December 14, 2011 / 6:35 PM / 6 years ago

Saab administrator to quit amid disagreement

STOCKHOLM, Dec 14 (Reuters) - Ailing Swedish carmaker Saab and its court-appointed administrator Guy Lofalk want him replaced amid reports of disagreement as the company struggles to stay in business, a court said on Wednesday.

The court is due to decide whether to keep Saab in a scheme which grants it protection from creditors while it secures itself a stable future.

Lofalk, who applied to have the creditor protection scheme ended, now wants to leave his position.

“The Saab companies and Guy Lofalk have today jointly requested that Guy Lofalk will be dismissed as administrator and that lawyer Lars-Henrik Andersson is appointed as a new administrator”, Vanersborg District Court said on its website.

The court is due to decide on the matters on Monday Dec. 19.

Saab spokesman Eric Geers said it was Lofalk’s decision to quit, but recent reports in Swedish media suggested Victor Muller, chief executive of Swedish Automobile, the Dutch firm which owns Saab, wanted Lofalk to go.

On Tuesday, Saab said it got a much needed first payment from China’s Zhejiang Youngman Lotus Automobile but more funding was necessary.

“What we believe we will succeed in doing is finding this funding which is needed for us to continue,” Geers said.

Geers would not comment on why it wanted Andersson as new administrator.

Andersson said he would not comment until Monday, but said he could accept the role of administrator.

“I will accept, under certain conditions,” he told Reuters, declining to say what those conditions were.

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