Summary Box: Bankrupt Saab has debts of $1.9B

AP News
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Posted: Apr 10, 2012 1:52 PM
Summary Box: Bankrupt Saab has debts of $1.9B

CREDITORS' HAIRCUT: The value of bankrupt Saab Automobile's assets covers less than a third of its debts and only some preferential creditors will get any money back, the company's trustees said Tuesday.

DEEP RED: A summary of Saab's balance sheet showed the company has debts of 13 billion kronor ($1.9 billion) and assets of around 3.6 billion kronor ($532 million).

ON THE HOOK: The debts include claims of 2.2 billion kronor from the Swedish state, 606 million kronor from former owner General Motors Corp. and 513 million kronor from former employees.