Toshiba Corp. Declares Bankruptcy for Westinghouse

Nuclear energy firm Westinghouse has been declared bankrupt by the board of Toshiba Corp. after the Japan-based firm approved a Chapter 11 bankruptcy filing for Westinghouse after Toshiba had previously cautioned of a prospective writedown worth $6.2 billion on the said firm as reported by Nikkei. Prior to this particular development, Westinghouse had been experiencing project delays both in South Carolina and Georgia and this has inevitably led to the said writedown. Westinghouse technology currently makes up for half of  the world’s atomic units.