To be or not to be

Today is an important day as all creditors to NEVS are gathering in Vänersborg to listen to administrator Lars Eric Gustafsson. Key objective for the day will be to get either thumbs up or thumbs down on the reconstruction plans.

The plans were made public last week (see more details in my post from October 2nd) and as they carried the “preliminary” label, I am expecting some new information to be announced today as well (for anyone interested in following the coverage live, Sveriges Radio is providing updates here).

Having said that, the key question is really whether first the creditors and later the district court have sufficient faith in the plans for the reorganisation to continue. Interestingly enough local sources reporting around “Plan B” -where NEVS would turn into a contract manufacturer for other brands- have been mainly positive, while “Plan A” -new ownership- seems more unlikely.
As Swedish daily SVD is reporting this morning, it appears that SAAB AB is determined not to grant the license to use the SAAB brand back again, and if true, this would really give another spin on the “to be or not to be” question that is on the table today.

To be continued…