Toshiba To Sell Claims Against Westinghouse For $2.2B

Law360, New York (January 18, 2018, 7:53 PM EST) -- Toshiba Corp. announced Thursday it has agreed to sell billions worth of claims it holds against Westinghouse Electric Co., its bankrupt nuclear contracting subsidiary, for close to $2.2 billion, helping set up a path for Westinghouse to confirm a reorganization plan by the end of March.

The Japanese conglomerate said it plans to complete a sale of its claims against Westinghouse to a consortium of investors led by The Baupost Group LLC by the end of the month. The sale of claims, which stem in large...
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