Saab Cars North America plan accepted by majority of voting creditors

By Caroline Salls

Pittsburgh, July 12 - Saab Cars North America, Inc.'s third amended plan of liquidation was accepted by a majority of voting creditors, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The one holder of $18.51 million in secured Ally claims voted to accept the plan.

In addition, 315 holders, or 97.83% in number, of $11.29 million, or 98.43% in amount, of general unsecured claims voted to accept the plan, while seven holders, or 2.17% in number, of $180,108, or 1.57% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for July 15.

Saab AB is a Trollhattan, Sweden-based car manufacturer. Subsidiary Saab Cars North America is based in Royal Oak, Mich. An involuntary bankruptcy case was filed against Saab Cars North America on Jan. 30, 2012. Its Chapter 11 case number is 12-10344.

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