Saab's U.S. Unit Gets Nod For Ch. 11 Liquidation Plan

By Matt Chiappardi (July 15, 2013, 7:58 PM EDT) -- After spending about a year and a half in a sometimes contentious bankruptcy process, the U.S. arm of Saab Automobile AB on Monday won a Delaware bankruptcy's judge's approval for its Chapter 11 liquidation plan.

The estate of Saab Cars North America Inc. is expected to have a liquidating trust of about $20 million to use for disbursements that will see administrative, priority and secured claims paid in full, attorneys for the company said in court.

U.S. Bankruptcy Judge Christopher S. Sontchi said "good lawyering" helped navigate what began as a rancorous case into the home stretch of a seemingly peaceful...

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