The recent Chapter 11 filing of Westinghouse Electric is virtually assured of being no ordinary bankruptcy case. In re Westinghouse Electric Company, No. 17-BK-10751 (Bankr. S.D.N.Y.) (Ch. 11) (Wiles, B.J.), filed March 29, 2017. This subsidiary of Toshiba of Japan is one of the few builders of nuclear reactors in the world. The critical technology that Westinghouse holds, while ostensibly devoted to peaceful purposes, could, in the wrong hands, be perverted to dreadful ends.
The last concern is reflected in reports that the Trump administration is intensely interested in this Chapter 11, and is determined to prevent Westinghouse’s atomic secrets from falling into the possession of the People’s Republic of China. See Jacobs, Mohsin & Dlouhy, “Trump Team Takes Steps to Keep Chinese from Westinghouse,” Bloomberg.com (April 5, 2017). And the means by which the federal governments might intervene in the Westinghouse bankruptcy is the Committee on Foreign Investment in the United States, better known as CFIUS.
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