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Toshiba has reported another huge loss as it continues to try to recover from the bankruptcy of its Westinghouse nuclear unit:
Toshiba has filed its delayed financial results, warning that the company's survival is at risk. "There are material events and conditions that raise substantial doubt about the company's ability to continue as a going concern," the company said in a statement.
The electronics-to-construction giant reported a loss of 532bn yen (£3.8bn; $4.8bn) for April to December. However, the results have not been approved by the firm's auditors. These latest financial results have already been delayed twice and raise the possibility that Toshiba could be delisted from the Tokyo Stock Exchange.
Previously: Toshiba Nuked Half its Assets
Huge Nuclear Cost Overruns Push Toshiba's Westinghouse Into Bankruptcy
(Score: 2) by bob_super on Wednesday April 12 2017, @11:24PM
> It is in each party's self-interest to make sure that the beneficial aspects of a contract be enforced
It is in each party's self-interest to make sure that the negative aspects of a contract be mitigated.
> acting outside of the bounds of a contract is dangerous and possibly very costly, because the ramifications are poorly defined
Especially if there is no authority to appeal to when the contract is breached, resulting in a dispute which can only be resolved by the strongest party winning.
There is no "contract" if there is no way to constrain the strongest party to fulfill its terms.