A group of Saab dealers will meet with lawyers Sunday before what is likely Saab's final make meeting Monday. The dealers are grappling with issues surrounding the Swedish carmaker's bankruptcy.
Among those issues: how Saab dealers will be paid from the remaining assets of Saab Cars North America, how to deal with warranty issues and how to dispose of unsold inventories of cars and parts.
Eric Snyder, a lawyer representing Saab dealers, said, "Now the dealers are stuck with cars that are being sold at half MSRP. This is not like Oldsmobile, where they could sell the cars back to GM or Chrysler, where they could sell them to other dealers," he said, referring to General Motors' decision in 2000 to phase out Oldsmobile and Chrysler's termination of 789 dealers in its 2009 bankruptcy.
Saab Automobile AB filed for liquidation Dec. 19 in Swedish bankruptcy court. A group of Saab's U.S. dealers last month submitted an involuntary Chapter 11 bankruptcy petition. Saab Cars North America has until Feb. 22 to respond to the bankruptcy petition, said a lawyer representing the dealers.
Ray Ciccolo, a Boston Saab dealer and the NADA line representative for the brand, said, "We've filed a bankruptcy petition against them. We need to talk about where we go from here and our ability to keep buying parts from some entity. We need to talk about losses and unpaid warranty claims and exactly what is GM's role in all this." c