Swedish Automobiles, parent company of struggling Saab, has announced that they will sell the Spyker Cars portion of their company to an American equity firm in an effort to focus all of their time and resources on saving Saab as they work their way through government aided re-organization.

Reports from Sweden this morning indicate that the Saab’s desperate appeal to the Swedish government for protection from bankruptcy as they undergo a corporate reorganization has been approved – saving Saab from the jaws of the unpaid labor unions preparing to force the company into bankruptcy.

While things are far from good, the Saab brand has received a brief glimmer of hope from the Swedish government as their appeal for government protection from creditors has been granted – giving the automaker a new chance to prove to the Swedish authorities that protection during corporate reorganization can save the struggling company.

We reported yesterday that Saab and parent company Swedish Automobile had filed for government protection from their unpaid suppliers and employees who are getting ever closer to forcing Saab into bankruptcy and today, Saab is one step closer to facing bankruptcy as the Swedish government has denied the automaker’s plea for protection.

More apocalyptic news from Saab as it is seeking government intervention in its struggles to pay its numerous creditors.

Putting together a display at the world’s biggest auto shows does not come cheap so it should be no big surprise that Saab has announced that they will not display at the 2011 Frankfurt Motor Show next month.

Another day – another problem for Saab as the European Investment Bank (EIB) has reaffirmed that Russian investor Vladimir Antonov will not be permitted to buy a portion of the company while Saab still owes money to the European lending institution.

The first examples of the Saab 9-4X crossover are reaching US dealerships now.

Just yesterday, Saab parent company Swedish Automobiles announced a sale of 50.1% of the Trollhattan production facility after selling 582 vehicles to a Chinese firm and today, the company has announced a new creditor who may put Saab one step closer to resuming production.

Another day, another piece of information in the saga that has become the Saab brand as it appears that Swedish real estate firm Hemfosa is reportedly ready to buy the automakers Trollhattan plant with the intention of leasing it back to Saab.

Saab production at their Trollhattan facility is halted as the automaker works out their non-payment issues with suppliers and Saab’s newest solution is asking their creditors to accept 10% of what is owed to them right now and the rest of the debt will be paid in September.

A group of 48 creditors who are owned money by Saab have turned to the Swedish collection agency Kronofogden to gather monies amounting to a sum of over $3.6 million US dollars and if this group is successful, it could force Saab to declare bankruptcy.

A parts shortage brought the Saab assembly line to another halt yesterday, after the beleaguered Swedish automaker had only restarted production on May 27th after a month-long lapse in funding from Spyker.

Spyker has made some interesting moves over the past year, including buying the struggling Saab brand and selling off the Spyker brand to focus on Saab – only to run out of money and go on a desperate hunt for investors to resume production – and now it looks like the company will make another big move as they rename themselves Swedish Automobile N.V.