Saab Fends Off Latest Bankruptcy Threat

Law360, New York (August 5, 2011, 5:53 PM EDT) -- Sputtering carmaker Swedish Automobile NV on Friday reportedly freed up enough cash to pay overdue salaries, but its long-term viability remained uncertain and Saab vehicles were still not rolling off the production line.

More than 1,600 white-collar Saab employees received their salaries after the carmaker’s straits forced it to delay payment on July 26 until it collected the funds from investors, Agence France-Presse reported.

While Spyker Cars rescued Saab from bankruptcy, buying the iconic Swedish brand from General Motors Co. in 2010, the company has been...
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