Lofalk sued by other company
by TimR on October 24, 2011
This article is a Quotation from Robert Collin’s article at Aftonbladet. (original article here)
Saabs administrator Guy Lofalk is having troubled times. Last week he offered the chinese to buy whole of Saab, without Muller or Antonov and without any requirements for future production in Trollhättan, for a joke of a price.
Next week the district court in Lycksele (northern sweden) is demanding him a sum of eleven million swedish crowns for a broken promise in another reconstruction he was responsible for. And in the middle of all this, Saab rips apart its deal with the Chinese.
The lawyer Guy Lofalk demanded eleven million in advance to start working with Saabs reconstruction. And an additional five to seven million if the mission was successful.
He got the job even though he was expensive.
- We thought he was the man for the job, according to a source at Saab to Aftonbladet. But now the relationship between Saab and Lofalk is ice-cold, within a few days Saab will visit the court in Vänersborg to get him relieved.
- He has gone behind our back, twice, say Saab’s CEO Victor Muller to swedish radio west.
For several months Saab has had a deal with the chinese companies Pang Da to sell cars and Youngman to build cars in china. According to the deal which was signed on July 3rd, the chinese would own 54 % of Saab, Victor Muller together with Vladimir Antonov as invisible financier would have 40% and the Abu Dhabi-based fund Mumbadala would own the rest.
And money was to arrive at Saab swiftly to cover running expenses. But when everything was ready, Lofalk traveled to china, without anyone at Saab, knowing about it and stopped the deal. He arrived back home again together with Volvo’s owner Geely whom Lofalk had offered Saab for a very fair price. Lofalk had in secret booked a meeting with finance minister Anders Borg. But when the story broke in the media, Anders Borg, left and Li Shufu, chairman of Geely got to meet with Hans Lindblad, the secretary of state instead he lost face and flew back home again.
On who’s mission did Lofalk try to crack the original deal? Sources within Saab are sure that Swedens finance minister Anders Borg is the one behind it all.
- He wanted to get rid of Saab ever since the auto-chrisis started in 2008. Muller and Antonov are an annoyance to him and are to be rid of at any price, according to a source within Saab.
When the Geely-deal broke Pang Da and Youngman were back and Saab’s negotiators thought that they were close to a deal. But that is when Lofalk once again got on a plane to china. This time to offer the chiense parties a much better deal. Rather than buying half of Saab for more than two billion crowns, they would be able to buy the WHOLE of Saab for just two hundred million crowns.
In the deal, Muller and Antonov would be erased from Saab, production in Trollhättan didn’t matter and the deal had the blessing of the swedish government.
- Lofalk had become Saab and Trollhättans enemy number one. And so late last night Saab canceled their deal with the chinese.
- If they do not pay according to the deal we have to act, said Victor Muller who within a matter of days will go to the court to get Lofalk replaced.
But Guy Lofalk doesn’t only work with the Saab deal these days. Another reconstruction that he has been responsible has caught up with him. In court…
The issues is concerning mining operations at the Blaiken-mine in Sorsele in southern Lappland in the very north of Sweden. A supplier Kjin Schakt located in Storuman, continued to work in the mine during the reconstruction, and any company which takes on a risk like that, to continue to deliver during the crisis, has preference to what ever money is left in the company.
According to Kjin Schakt they were promised a super-benfit-rights by Guy Lofalk, but in the end ended up with nothing. Kjin Schakt has now sued Guy Lofalk for eleven million crowns, the exact amount that he demanded in advance from Saab a few weeks ago.
According to sources to Aftonbladet, it is the first time ever that a suppliers is suing an administrator for breaking a deal.
Bron: Saabsunited