Guy Lofalk does not want to be the Administrator for Saab's bankruptcy protection anymore and who can blame him? He's going to be responsible, legally, for killing one of Sweden's biggest names.
Both Saab and Guy Lofalk petitioned the court to dismiss him as the administrator this week affter Lofalk again called for the termination of Saab's creditor protection. Unfortunately for Lofalk, the courts did not accept his resignation nor Saab's request insisting that it is simply too late to allow a new administrator. "With regard to the short time remaining until the matter will be tested ... the district court assesses that there are insufficient grounds to immediately dismiss Lofalk."
On Monday the court will decide whether or not the initial payment and promise of Youngman can keep them going and if it is likely that further payments will be A) accepted by GM and B) enough to save Saab.
(Reuters)
agentorange says:
07:48 PM, 12/16/11
Can't quit? Nice legal opinion, but if he is on a remote beach on the Caymans with his cell off.......