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Westinghouse Chap 11 a key stage in meltdown of nuclear industry

Crisis-hit Toshiba gives the greenlight to Chapter 11 bankruptcy filing for its struggling US nuclear-power unit

Thu, Mar 30, 2017 - 5:50 AM

According to Greenpeace Japan, Toshiba is "scrambling to find a buyer to take the Westinghouse anvil from around its neck".

PHOTO: BLOOMBERG

Tokyo

THE board of Japan's electrical giant Toshiba Corporation on Wednesday approved the filing of bankruptcy proceedings for its struggling US nuclear-power subsidiary Westinghouse, marking what some claim is a key stage in the "meltdown" of the global nuclear-power industry.

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