Saab's North American Unit Delivers Ch. 11 Liquidation Plan

Law360, Wilmington (October 18, 2012, 7:27 PM EDT) -- Saab Cars North America Inc. and its creditors committee teamed up Wednesday to submit a liquidation plan with the Delaware bankruptcy court that provides unsecured creditors a recovery ranging from 7 to 58.5 percent, depending on the resolution of disputed secured claims.

The U.S. arm of the bankrupt Swedish automaker seeks to wind down its business and its Chapter 11 case through the establishment of a liquidating trust, whose trustee would be responsible for distributing the proceeds of SCNA's assets, most of which have already been...
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