Concerns emerge over guarantee for Toshiba's U.S. nuclear project

[bananas]

Source: Kyodo

Concerns about a potential burden on American taxpayers have emerged as Toshiba Corp. is considering the option of a Chapter 11 bankruptcy for its troubled U.S. nuclear unit Westinghouse Electric Co., according to sources close to the matter.

With the U.S. government having guaranteed an $8.3 billion debt over a nuclear power plant project in Georgia contracted to Westinghouse, the company’s restructuring under Chapter 11 may force U.S. taxpayers to shoulder part of the cost, the sources said Thursday.

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Japan’s Economy, Trade and Industry Minister Hiroshige Seko plans to make a trip to the United States during which he may discuss the Westinghouse issue with a high-level U.S. official in charge of energy.

On Wednesday, Reuters news agency reported that Westinghouse has hired bankruptcy attorneys. Citing sources, Reuters said no decision had yet been taken about filing for bankruptcy.

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Read more: http://www.japantimes.co.jp/news/2017/03/10/business/corporate-business/concerns-emerge-guarantee-toshibas-u-s-nuclear-project/

[hedda_foil]

1. Lieberman's little craptastic amendment, remember. The taxpayers pick up the bill if the deal sours

[keithbvadu2]

2. Trump has already taken credit for the economy. This is his.