Toshiba's nuclear woes a hot ticket for Wall Street bankruptcy financiers

New York

WESTINGHOUSE Electric Co's financial distress sparked a feeding frenzy among Wall Street lenders keen to give the nuclear developer a lifeline while it reorganises in bankruptcy, according to court papers and people familiar with the matter.

Toshiba Corp's shareholders on Thursday approved a proposal to split off the Japanese company's prized NAND flash memory unit, paving the way for a sale of a majority stake or even all of the business.