2006 Saab 9-3 Arc 2.0 Turbo 0nly 71k.super Clean No Reserv. on 2040-cars

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Saab tries [again] to emerge from bankruptcy

If we've learned one thing from watching The Walking Dead, it's that the only way to terminate a walker is with a swift and brutal blow to the brain. Sadly, no one has come along that's willing to do the gruesome deed to the stumbling shell that is Saab. The company's latest owner, National Electric Vehicle Sweden is trying, yet again, to crawl its way out of bankruptcy with a "composition proposal in order to exit the reorganization." That proposal, outlined in the attached press release, will see the majority of the company's many creditors receive full repayments. For 104 of the 573 creditors, all of whom have claims over 500,000 Swedish Krona (roughly $60,000), their claims will be reduced by 50 percent. If creditors approve the proposal, it'd provide "the conditions for completion of ongoing negotiations with two major OEMs," which the press release claims could come on as either a joint-venture partner in Trollhattan or a majority owner in the struggling company. We won't be holding our breath. Scroll down for the full press release from NEVS. Thursday, February 19, 2015 A composition to get Nevs out of reorganisation National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs' owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhattan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product. - The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman. The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500'000 SEK.

GM wins appeal, dismissal of $3B Saab-related Spyker suit

It's been a long time since we last heard of the legal battles between Spyker CEO Victor Muller and General Motors, the automaker from which Muller's company purchased the embattled Saab brand back in 2010. To refresh your memories, after struggling through 2011 and entering into bankruptcy, Spyker attempted to save the Saab brand by selling it to a Chinese consortium. General Motors, though, blocked the sale because it did not want any of its intellectual property, of which Saab was in possession of from its days under the GM umbrella, in the hands of a potential rival automaker. Spyker then sued GM for intentionally blocking what it said was Saab's only chance of survival. The $3-billion suit was dismissed after a judge ruled in favor of GM, which apparently had granted a license to Saab to continue building cars using its technologies, but reserved the right to cancel that agreement if Saab again changed hands. Spyker appealed, and, according to Reuters, the appeals court upheld the previous ruling, again siding with GM. National Electric Vehicle Sweden, the company that eventually purchased Saab out of bankruptcy, managed to restart production for a short period before itself falling into financial trouble. We have at least another month to wait before hearing how Saab's next chapter may read.

The Saab 9-3 that never was finally shows up

Looking back on the life and [slow and painful] death of Saab, it's impossible to not stop and think of what might have been with the quirky Swedish automaker. As it turns out, SaabsUnited has decided to shed some light on what the company's future might have looked like, including some images and information that include full-scale mockups of the 9-3 Phoenix, which you see above.
In its waning years, Saab's lead designer Jason Castriota was working feverishly to deliver new products that built on the heritage of the brand while doing so at a lower cost and in a shorter time period than previous models. In the end, though, it sounds like the earliest that we could have seen any of these plans come to fruition was 2014. In addition to hatchback and convertible 9-3 variants, Castriota also created the Sonnett - a sporty-looking 2+2 that never made it past the design study phase.
Regardless of whether you're a diehard fan of the brand or if you were just pulling for the underdog, you'll want to head on over to SaabsUnited to check out a little more of what the future could have held for Saab.