The Daily Docket: Saab to Enter Chapter 11

Saab Cars North America said it will file for Chapter 11 protection in Michigan, a move that comes a little more than a week after some of its dealerships sought to push the Swedish auto maker’s U.S. unit into bankruptcy proceedings in Delaware. Read the Daily Bankruptcy Review article here.

Oilsands Quest Inc., which explores for oil in sand deposits in western Canada, is seeking protection from its U.S. creditors and shareholders. Click here to read the article in DBR Small Cap.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC, click here.)

American Airlines is renegotiating the terms of $1.6 billion it owes Brazil’s state development bank, Reuters reports.

General Motors Co. Is demanding more cuts from labor unions in its Opel/Vauxhall unit, The Wall Street Journal reports.

Also according to WSJ, Hawker Beechcraft Inc. has hired a restructuring veteran as its chief executive and has also hired bankruptcy and restructuring lawyers.

According to the Los Angeles Times, lawyers are saying debt from student loans is pushing more young people and their parents toward bankruptcy.

According to DealBook, more mortgage-backed securities American International Group once owned are being auctioned this week.

Frank Fertitta III and Lorenzo Fertitta, minority owners of Station Casinos LLC, plan to buy out another shareholder, the Las Vegas Review-Journal reports.

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