The U.S. utilities that are clients of Toshiba Corp’s nuclear power plant construction subsidiary, Westinghouse Electric Co LLC, have hired advisers to prepare for its potential bankruptcy, according to people familiar with the matter. The move comes as Toshiba sees Westinghouse’s bankruptcy as increasingly likely. The Japanese conglomerate has hired restructuring consulting firm Berkeley Research Group LLC and law firm Skadden, Arps, Slate, Meagher & Flom LLP to help defend it against bankruptcy claims, the people said on Wednesday. Scana Corp and Southern Co, the power utilities which hired Westinghouse to build the first nuclear power plants in the United States in more than 30 years, have also hired restructuring advisers, the people said.
Reuters 23rd March 2017 read more »
Reuters reports that Westinghouse Electric, the US nuclear power plant developer owned by struggling Japanese electronics giant Toshiba Corp, has brought in bankruptcy lawyers from Weil Gotshal & Manges LLP.
Modern Power Systems 22nd March 2017 read more »