Tuesday, 7 April 2015

April meeting this Wednesday

This Wednesday (8th) is the next meeting of East Sussex Saab.

We will be at the The Cricketers Arms, Berwick. Meeting starts at 8pm.


See you there.

Thursday, 19 February 2015

A composition to get Nevs out of reorganisation

National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs’ owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhättan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product.

-     The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman.

The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500'000 SEK. Meaning that from a total of 573 creditors 469 will get their full claim paid, and 104 creditors will have their claims above 500’000 SEK reduced by 50 percent.

-     Provided that Nevs’ composition proposal is accepted, it is my judgment that the prerequisites are favorable to also reach an agreement with a financially strong OEM, and thereby enabling a continued business potential for the creditors. With this said, it is my opinion that accepting the composition proposal is advantageous for the creditors. The alternative of a liquidation would likely result in a lower dividend several years later, says the Administrator, Attorney Lars Eric Gustafsson, Hamilton Law Firm.

All creditors are invited to an information meeting at Nevs in Trollhättan on 26 February.

Attached is the Administrator Report. Click here to read it on Hamilton law firm’s website. 

Thursday, 12 February 2015

20% discount on Saab Fixed Price Services

To celebrate the new year, selected Saab service centres are offering you an exclusive discount of up to £50.00* on your Saab service to help you save more this year. The Saab Original range is perfect for all Saab drivers who want quality at competitive prices designed by Saab for your Saab.

Reasons to be cheerful – Your service options

Oil Service £129 £99

  • Oil and filter change
  • Comprehensive vehicle check and report including lights, battery, coolant level, drive belts, braking system, steering, exhaust system and much more
  • Pollen filter change
  • Full vehicle road test

Annual Service £249 £199

  • Oil and filter change
  • Air filter, pollen filter & fuel filter change
  • Check drive/ribbed belts
  • Check lights and electrics
  • Check transmission
  • Check brakes – pads and discs
  • Check tyres – adjust tyre pressures
  • Check underside
  • Check windscreen and windscreen wipers
  • Check/correct windscreen washer level
  • Full vehicle road test
For further details, including participating garages, and to download your voucher, visit www.saabparts.com.

Saturday, 7 February 2015

February meeting new location

February's meeting will join up with UKSaabs for their Surrey and Surrounds meet.

Because of this the meeting will be held outside of East Sussex for this one-off event.

Wednesday 11th February 2015
Headley Hills Restaurant & Bar (Formerly The Cock)
Church Lane
KT18 6LE


Hope to see you there.

Sunday, 11 January 2015

January meeting this Wednesday

This Wednesday (14th) is the next meeting of East Sussex Saab.

We will be at the The Cricketers Arms, Berwick. Meeting starts at 8pm.


See you there.

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