Saab receivers ask for additional help

Jan 9, 2012, 12:26 GMT

Stockholm - Two court-appointed receivers handling Swedish carmaker Saab's bankruptcy estate on Monday requested help from a third receiver, adding that it would reduce a possible conflict of interest related to Saab's brand name.

Attorneys Hans L Bergqvist and Anne-Marie Pouteaux were named as receivers December 19 when the carmaker's Dutch owner, Swedish Automobile, made its bankruptcy filing.

The brand name is shared with defence and security company Saab AB, which has operated separately from the carmaker since 1996. Media reports said Bergqvist's firm had earlier conducted work for the defence contractor.

The district court in Vanersborg said it would rule on the request no later than Thursday, pending a decision from an advisory board on bankruptcies.

Attorney Kent Hagglund was interested in taking on the assignment, according to court documents.

Few details have emerged about the receivers' work. They have said they were hopeful that 'some activity' could continue at the carmaker's main plant in Trollhattan, western Sweden. Production virtually ceased in April.

Chinese group Youngman has long expressed interest in Saab and was in talks with the carmaker's owner until the bankruptcy filing.

Media reports have also mentioned interest from, among others, Turkish investment company Brightwell and the Mahindra group of India.

Swedish Automobile took over Saab from General Motors (GM) in 2010. GM still controls key technology used by Saab and maintains a say over any possible deals.