February 15, 2018 / 11:00 PM / 10 months ago

AIG wants clarity on surety bonds for Westinghouse Chapter 11 plan

Insurer American International Group Inc on Wednesday said it cannot support bankruptcy plan disclosures made by Toshiba Corp’s nuclear services business Westinghouse Electric Co LLC until it makes clear its plan for its surety bonds.

AIG in court papers objected to Westinghouse’s disclosure statement, arguing it is “silent” on how the bonds would be treated in a Chapter 11 plan though it implies they will be replaced with new bonds.

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