Toshiba Corporation (fka TOSBF)

[eFinanceMarkets]

Reuters: Toshiba's Westinghouse to file for bankruptcy today
Toshiba's (OTCPK:TOSBF +1%) Westinghouse Electric unit will file for Chapter 11 bankruptcy protection today, Reuters reports.
Pittsburgh-based Westinghouse has been crippled by cost overruns at two U.S. nuclear energy projects in Georgia and South Carolina; Southern Co. (SO -0.3%) and Scana (SCG +0.3%), the two U.S. utilities that operate the respective nuclear plants, are among its biggest creditors.
A Chapter 11 move likely will spark complex negotiations between the Japanese conglomerate, its U.S. unit and creditors, and could embroil the U.S. and Japanese governments given the scale of the collapse and U.S. state loan guarantees for new reactors.