The bankrupt U.S. arm of Swedish automaker Saab Automobile AB has gained court approval of a plan to liquidate and pay back creditors, effectively ending its bankruptcy, Reuters reported yesterday. Bankruptcy Judge Christopher Sontchi on Monday signed off on Saab Cars North America Inc.’s plan to pay back all secured creditors and some portion of unsecured claims, while wiping out equity holders. Saab North America was forced into bankruptcy last year by several of its U.S. dealers after its parent entered liquidation proceedings in Sweden.
