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Hopefully not as ominous as it first appeared Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Tue, 24 Nov 2009 17:23:50 In Reply to: Elimination most likely for Saab, Step On, Tue, 24 Nov 2009 12:35:55 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I read a quote from Augie Fabella (sp?) later today, wherein he stated Koenigsegg Group has the funds for the purchase, but not enough time to complete the transaction by the stipulated date.
So maybe one option to be presented to the GM Board of Directors next week is to extend the sale completion date by 2 or 3 months. If so, Saab may still have a future.
It has been too many years since I had my Business Law class for me to remember all details, but I think this falls into the realm of "Anticipatory Repudiation". The situation where one party to a contract realizes they are incapable of fulfilling their obligation and notifies the other party prior to the date of delivery.
posted by 24.23.71...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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