Squire Patton Boggs is working for bankrupt Westinghouse Electric as parent company Toshiba shops for a buyer for the maker of nuclear power plants.
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Westinghouse filed for Chapter XI in March due to financial pressure from massive cost overruns on two plants under construction in South Carolina and Georgia, drop in natural gas prices, rise of alternative solar/wind power sources and safety concerns that intensified after the 2011 Japanese earthquake that rocked the Fukushima reactor.
SPB counsels Westinghouse on matters related to bankruptcy matters as well as issues concerning the Committee on Foreign Investment in the US, which blocks foreign entities from acquiring an American company due to national security concerns.
The Trump Administration could use CFIUS to block a bid for Westinghouse by Chinese investors.
China is in the midst of a nuclear power plant building spree with 20 reactors currently under construction.
Former Senators John Breaux (D-LA) and Trent Lott (R-MS) are members of SPB's Westinghouse team.
Toshiba bought Westinghouse for $5.4B a decade ago.
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