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Muller only member left on Saab board

Saab CEO Victor Muller is the only member left on the board of directors of the troubled Swedish automaker after the departure of several board members in recent days.

Muller only member left on Saab board

General counsel Kristina Geers left her post shortly before the Midsummer holiday, the local Göteborgs-Posten (GP) reported.

According to other local media, both union representatives have also left their positions on the Saab board.

Håkan Skött of Saab’s IF Metall chapter confirmed the news for the TT news agency on Sunday night.

“That’s correct. The company is in a serious situation and because of that I’ve chosen to leave my position,” he told TT.

Geers departure had given union representatives a majority position on the board before they too left their posts. Nevertheless, Skött said it was “hard to say” whether having a union majority on the Saab board could have been used to workers advantage.

“It depends on what sort of issues come up,” he said, adding that he didn’t want to elaborate further on his reasons for leaving.

The recent departures leave Muller as the sole remaining member of the Saab board.

At the same time, unions may force Saab into bankruptcy in order to ensure members get paid using the state loan guarantees which would then take effect.

“It’s possible. That’s the most dramatic scenario. I hope and expect that things won’t go that far,” said Skött.

However, when news hit on Thursday that Saab employees wouldn’t get paid, the IF Metall union began drawing up demand for payments notices to be sent to Saab leadership on behalf of every employee.

“There will end up being about 1,500 of them. It will likely take a few more days,” said Skött.

The payment demands will be delivered to people at the company authorised to issue payments, including Muller and several other top managers.

After the notes have been delivered, the company has seven days to respond.

“When we know the company’s reaction, then we’ll decide what the next step will be,” Skött told TT.

According to Skött, negotiations took place at the weekend about the possible sale of Saab real estate. In addition, the loan from the European Investment Bank (EIB) was also discussed, as was the possibility of getting more money from Saab’s new Chinese partners.

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Former Swedish Saab bosses appear in court

Swedish car maker Saab's former CEO Jan Åke Jonsson and the firm's former head lawyer Kristina Geers have appeared in court in Vänersborg in west Sweden, accused of falsifying financial documents shortly before the company went bankrupt in 2011.

Former Swedish Saab bosses appear in court
Saab's former CEO Jan Åke Jonsson. Photo: Karin Olander/TT
The pair are accused of falsifying the paperwork at the height of the Swedish company's financial difficulties at the start of the decade.
 
A third person – who has not been named in the Swedish media – is accused of assisting them by issuing false invoices adding up to a total of 30 million kronor ($3.55m).
 
According to court documents, the charges relate to the firm's business in Ukraine and the paperwork in question was signed just before former CEO Jan Åke Jonsson resigned.
 
Both Jonsson and Saab's former head lawyer Kristina Geers have admitted signing the papers but denied knowledge of the Ukranian firm implicated in the case.
 
All three suspects deny all the charges against them.
 

Saab's former head lawyer Kristina Geers. Photo:  Björn Larsson Rosvall/TT
 
Saab filed for bankruptcy at the end of 2011, after teetering on the edge of collapse for nearly two years.
 
Chief prosecutor Olof Sahlgren told the court in Vänersborg on Wednesday that the alleged crimes took place in March 2011, when Saab was briefly owned by the Dutch company Spyker Cars.
  
It was eventually bought by National Electric Vehicle Sweden (Nevs), a Chinese-owned company after hundreds of staff lost their jobs.
 
The car maker, which is based in west Sweden, has struggled to resolve serious financial difficulties by attracting new investors since the takeover.
 
In October 2014 it announced it had axed 155 workers, close to a third of its workforce.
 
Since 2000, Saab automobile has had no connection with the defence and aeronautics firm with the same name. It only produces one model today, the electric 9-3 Aero Sedan, mainly targeting the Chinese market.