9/8/11, "Saab bankruptcy likely 'in days'," BBC
"The carmaker Saab's application for protection from its creditors to help it avoid being pushed into bankruptcy has been rejected by a Swedish court.
In response, Swedish trade unions said they could demand that Saab be declared bankrupt within days.
Saab had applied for protection while trying to secure additional funding.
Saab had to suspend production in April when its suppliers stopped deliveries after not being paid. Its workers have also had their pay delayed....
Swedish Automobile, formerly called Spyker, bought Saab from US giant General Motors in January 2010.
Before the summer, Swedish Automobile announced that two Chinese firms would buy minority stakes in the company.
However, these deals have not yet had regulatory approval in either Sweden or China.
They also need to be approved by the European Investment Bank (EIB)....
Mr Muller said he was confident they money would be approved: "All indications that we have is that this process is going favourably and very speedily."
But the Chinese government is unlikely to give the two companies the go-ahead, according to car analyst Jay Nagley of Red Spy Automotive.
"The Chinese government is concerned
- that its car industry is too fragmented," he said.
"It wants to see fewer, larger firms that can compete on the international stage.
- It doesn't want to see ambitious companies
- like these two buying a very small Swedish manufacturer.""...
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