Saab's Execution Stayed at Final Hour: Swedish Government Approved Voluntary Reorganization

Saab's life is beginning to look ever more like Wile E. Coyote by coming incredibly close to death but somehow surviving each time. Saab is reporting that the Swedish government has approved its plan for voluntary reorganization meaning that Saab will not go into bankruptcy.

Saab says that short-term cash flow is pending from Chinese auto makers Pang Da and Youngman. The Swedish appeals court decided that because there is a realistic expectation of Saab getting this money from these companies that the District Court had made an error and reversed the decision.

Saab is going to request that the bankruptcy filings forced by its workers' unions be stopped. Saab's factory workers have not been paid since August, and it also has creditors waiting to be paid.

Time will tell that whether this is Saab's saving grace and the influx of Chinese capital is all the company needs, or if it is just one more delay of the inevitable.