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Westinghouse Electric Chapter 11 Bankruptcy

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Privately-held Westinghouse Electric Company and 29 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, lead case number 17-10750 (Toshiba Nuclear Energy Holdings [UK] Limited).

The Company, which provides nuclear power plant products and services, is represented by Gary T. Holtzer of Weil, Gotshal & Manges. Westinghouse Electric Company operates as a subsidiary of Toshiba Corporation, which did not file for Chapter 11 protection. The Company announced that its operations in Asia, Europe, the Middle East and Africa will not be impacted by this bankruptcy.

Westinghouse Electric Company’s interim president and C.E.O., Jos Emeterio Gutirrez, comments, “We are focused on developing a plan of reorganization to emerge from Chapter 11 as a stronger company while continuing to be a global nuclear technology leader.” Westinghouse Electric Company’s Chapter 11 petition indicates assets greater than $1 billion.

Read more energy bankruptcy news.

The post Westinghouse Electric Chapter 11 Bankruptcy appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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