Saab's liquidation plan earns court approval

Newswire

By Nick Brown July 16 (Reuters) - The bankrupt U.S. arm of Swedish automaker Saab Automobile AB has gained court approval of a plan to liquidate and pay back creditors, effectively ending its bankruptcy. Judge Christopher Sontchi, of U.S. Bankruptcy Court in Delaware, on Monday signed off on Saab Cars North America Inc's plan to pay back all secured creditors and some portion of unsecured claims, while wiping out equity holders. Saab North America ...

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