Saab administrator says throws in towel on Saab reorganisation


STOCKHOLM, Oct 20 (Reuters) - The administrator in charge of Saab's reorganisation said on Thursday there was not enough cash to save the carmaker and that he had sent an application to a Swedish court to end the process. "The money is not enough to continue the reorganisation," Guy Lofalk told Reuters. "Now, an application (to terminate the reorganisation) has been mailed. It should be on the court's desk tomorrow." Lofalk added that the $70 million promised by North Street Capital on ...

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