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Saab Facing Debt Collection Probe

Swedish carmaker Saab is currently undergoing an official debt collection probe by Swedish Authorities which could ultimately end with bankruptcy.

The Swedish Enforcement Administration, or Kronofogden, launched the commercial debt collection probe on the back of claims for unpaid bills totalling 369,000 Kronor (40,000 Euro’s.) This is currently owed to two difference creditors but the probe is expected to include claims from an additional 12 other creditors unless Saab manage to get their finances in order.

Speaking to Sweden’s AFB, Kronofogden’s Hans Ryberg confirmed the two creditors which forced the debt recovery investigation are Infotiv (Sweden) who are owed 224,000 Kronor, and Kongsberg (Norway) who are owed 145,000 Kronor. 14 different creditors have claimed that in total they are owed 42 million Kronor by the car manufacturer but in all likelihood additional claims could soon be made which could cause this figure to rise dramatically.

Kronofogden aim to determine if Saab is able to meet it’s obligations via it’s monetary resources and assets.

Mr Ryberg said to AFB:

“It is not impossible that it has the money since (parent company) Swedish Automobile has conducted a new share offering. If we see that Saab does not have the means to pay its suppliers, they could ask a court that the company be declared bankrupt.”