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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.

Mahindra eying stake in Saab owner NEVS?

It's ironic that Saab's current vehicle architecture is called the Phoenix platform, because like the mythological bird, the company keeps returning from the ashes. That's right, the embattled Swedish automaker isn't completely dead yet. Again. Actually, it may be facing yet another buyout, and this time, the buyer may be from India.
Less than a month ago, the situation looked ominous for Saab. National Electric Vehicle Sweden, the carmaker's current owner, temporarily shut down 9-3 production at its Trollhättan factory not long after restarting it in the first place. According to Just Auto, it laid off about 100 consultants allegedly linked to problems making June payroll, as well. At the time, Saab claimed that the measures were temporary, and it was negotiating selling part ownership to another automaker.
Those assertions might have some truth behind them, it seems. Indian newspaper The Economic Times reports that Mahindra & Mahindra and an unnamed Asian automaker are negotiating with NEVS to purchase part of the company. It claims that the Indian automaker sees Saab as an opportunity to add a premium brand to its business.

Autoblog sell-it-yourself highlight: 2004 Saab 9-5 Aero Wagon

Want to sell your car? We make it safe, easy and free. Quickly create listings with up to 6 photos. Reach - literally - millions of buyers. Log in and create your free listings. In a recent Autoblog sampling of 10 pre-owned choices at least 10 years old and selling for under $10K, an Autoblog editor gave a shout-out to Saab's 9-5. And who could blame him? Despite its departure from the US market and subsequent closure as an automaker, Saab's brand still resonates among a committed core of enthusiasts. The Saab 9-5, available in both sedan and wagon variants, was the upper model of a two-model lineup; the 9-3 sedan sat below it, while the GM-sourced 9-7 SUV didn't appear until 2005. Both the sedan and wagon 9-5 were surprisingly roomy, and the Aero variant, pictured here, incredibly fast. This for-sale example, located in North Carolina, is at 176,000 miles a well-used example in need of (at least) a repaint. But this is the perfect color combination, plus a combo of sport and utility. Buy it for around $2K, hold another $5,000 in reserve to cover the obvious needs, and you can enjoy a distinctive piece of practical and powerful transportation. Related Video: