Tokyo/New York — Toshiba has said the board of its nuclear unit Westinghouse will decide whether to file for bankruptcy, suggesting that is one of the options under consideration as it struggles with billions of dollars in liabilities from cost over-runs on nuclear construction projects. "Whether or not Westinghouse files for Chapter 11 is ultimately a decision for its board, and must take into account the various interests of all of its stakeholders, including Toshiba and its creditors. It is not appropriate for Toshiba to comment prematurely," the Tokyo-based company said in an e-mailed statement. The company’s shares rose 7.8% in Tokyo trading. The Japanese electronics conglomerate has been grappling with construction delays at Westinghouse projects. Toshiba has estimated it will need to take a write-down of ¥712.5bn ($6.2bn), though it hasn’t been able to get auditors to sign off the final figures. The company said earlier this month that it’s re-evaluating Westinghouse’s positi...
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