Administrator Tries To Scuttle Saab's Swedish Insolvency

Law360, New York (October 21, 2011, 12:44 PM EDT) -- The insolvency administrator of Swedish Automobile NV's Saab Automobile AB unit has asked a Swedish court to terminate the troubled carmaker’s voluntary insolvency proceedings, which it sought while trying to salvage a deal to sell a majority stake to Chinese investors, Swedish Automobile said Friday.

The administrator, Guy Lofalk, filed an application to end the voluntary reorganization process for Saab and two subsidiaries, Saab Automobile Powertrain AB and Saab Automobile Tools AB, the company and the court said.

The court said the carmaker has until Oct....
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