Saab 'safer' under bankruptcy protection

The Swedish car maker Saab has filed for bankruptcy protection.

Its owner Swedish Automobile said the move would protect it from its creditors while it tried to secure additional funding.

Swedish Automobile chief executive Victor Muller told a news conference that it was the intention of the company to pay back all creditors in full.

He said: "It's much safer if you are an investor to invest in a company that is under protection against its creditors than when it's wide open for anybody to take a hit at it."