2001 Saab 9-5 Aero Sedan 4-door 2.3l on 2040-cars

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Saab owners NEVS denied creditor protection by Swedish court

The story of Saab is practically a Greek tragedy at this point. The quirky Swedish automaker that was once known as a pioneer of affordable turbocharging has been followed by years of news that just seemed to keep getting worse. At this point, maybe the brand name should be allowed to fade away into the ether and be remembered for the good times that it gave us.
Saab's latest predicament is that its parent National Electric Vehicle Sweden (or NEVS) has been denied protection from its creditors by the Swedish courts. According to Reuters, the judges called the business' financing plan "vague and completely undocumented." A company spokesperson told Reuters that it plans to appeal.
Seemingly in reaction to the court's decision, NEVS posted a press release on its website announcing that the company had applied "for a reorganization to create more time for the ongoing negotiations." The automaker continues to claim that it's negotiating with two global automakers to sell a portion of the company, possibly Mahindra, but the process is taking longer than it originally predicted. It seems a distinct possibility that this reorganization attempt is simply a way to buy extra time.

Victor Muller to pay Sweden back taxes for Saab work

Victor Muller, Saab's CEO from 2010 to 2011, has been ordered by the Swedish court to pay the back taxes he owes the country for his work at Saab, Autoweek and Volkskrant report. When he was the automaker's CEO he received a salary of about 8 million Swedish Krona ($1.25 million), which was recorded as a reward for consultancy work for a company in the US that Muller owns. The move allowed him to evade taxes for awhile, but the court has ordered him to pay taxes on his full salary.
Muller, who is also CEO of Spyker, and two other Saab executives were accused of accounting fraud in May, which took place in 2010 and 2011. According to reports, Muller maintains that he is not subject to taxes in Sweden.

National Electric Vehicle stops Saab 9-3 production amidst financing woes

It seems that quirky, Swedish automaker Saab might be on life support yet again. Its owner, National Electric Vehicle Sweden, has announced that it's reducing its workforce and temporarily halting production of the 9-3 due to financial problems. NEVS was only building six cars a day, anyway.
The company put out a press release admitting its economic woes, but it still appeared hopeful. NEVS claims it's developing "a new platform on the Phoenix architecture," and it has a frame agreement with an international automotive OEM. It didn't give any specific details about either one of these assertions though. According to The Wall Street Journal, NEVS needs the partnership to lower development costs in order to stay afloat. Saab spokesperson Mikael Ostlund told Autoblog in an email that the stop in production of the 9-3 in Trollhättan would last four weeks.
NEVS says it's in negotiation to sell a portion of the company to an automotive company. Its current monetary woes are caused by shareholder Qingbo Investment Company not financing the company as agreed. "We plan to have the results of the discussions at latest during June," said Ostlund.