Toshiba has decided to press the big red button in its attempts to reorganise its nuclear power business, seeking Chapter 11 protection for troubled Westinghouse Electric. Reported Friday by Reuters, a filing would blow out the cost of restructuring the business to US$9 billion (1 trillion yen). According to Nikkei, the company will meet with utilities and other stakeholders as early as Monday afternoon, US time, to discuss its Chapter 11 plans. The final decision will be made at a Westinghouse board meeting Tuesday morning.
The Register 27th March 2017 read more »