Westinghouse Announces Strategic Restructuring – Business Wire (press release)

CRANBERRY TOWNSHIP, Pa.–(BUSINESS WIRE)–Westinghouse Electric Company, LLC, a U.S. company, and certain of its subsidiaries and affiliates, today filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code. The Company is seeking to undertake a strategic restructuring as a result of certain financial and construction challenges in its U.S. AP1000® power plant projects. Westinghouse…

Parliament passes Bankruptcy (Amendment) Bill 2016 – Malaysiakini (subscription)

The Bankruptcy (Amendment) Bill 2016, which among others, protects social guarantors from being declared bankrupt, was passed by Parliament today. Minister in the Prime Minister’s Department Azalina Othman Said described the bill as a reform to provide for a fairer system for social guarantors. “This is because when we look at the definition of social guarantors,…