A Swedish court Thursday rejected crisis-hit automaker Saab's application for reorganization, according to local media report.
"The law's demand is not met and therefore it cannot approve the application," the Vanersborg's District Court said in a statement.
However, Saab can appeal to appeal court and finally the Supreme Court, Judge Gunnar Krantz explained. Theoretically, it was the Supreme Court that has the final say, added Krantz.
Saab Automobile and its subsidiary companies Saab Tools and Saab Powertrain applied to court about a reorganization of the company on Wednesday to secure short-term stability.
Swedish Prime Minister Fredrik Reinfeldt commented earlier that the Swedish government has done enough to rescue the company.
The long established Swedish carmaker has about 3,700 employees.
