IN BRIEF (Page 16)
China Daily | Updated: 2009-04-07 07:57
Saab seeks writedown
The court-appointed administrator of GM's Saab said yesterday the carmaker was seeking to write off about three quarters of its non-prioritized debt to help it reach a positive cash flow in 2011.
The court filing ahead of a the Nordic carmakers first formal meeting with creditors also said that about 20 "actively interested parties" were eyeing Saab, whose US parent has said it will cut its ties with the brand by January 1, 2010.
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