Monday, January 30, 2017

Banks To Sue Toshiba Over Accounting Scandal

It's not surprising that trust banks are lining up to sue Toshiba after that accounting scandal last year. I just wonder where the banks think Toshiba is going to get any money to pay them.

Japanese trust banks are preparing to sue Toshiba Corp over its 2015 accounting scandal, a fresh headache for the conglomerate as it scrambles to offset a separate imminent multi-billion dollar writedown. Chairman Shigenori Shiga is ready to step down to take responsibility for the upcoming charge - estimated at around $6 billion, local media have also reported.