Struggling Saab Receives Bankruptcy Reprieve

Law360, New York (September 21, 2011, 12:58 PM EDT) -- A Swedish appeals court on Wednesday gave ailing carmaker Saab Automobile AB protection from creditors while it reworks its operations and tries to finalize a joint venture with Chinese investors in hopes of staving off a looming bankruptcy threat.

The appeals court overturned a lower court's refusal of Saab's voluntary reorganization petition earlier this month, finding the company had a reasonable chance for survival. The lower court had seen little hope for Saab and as a result little reason to allow its attempt at reorganization....
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