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Old Oct 25, 2007 | 6:07 pm
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acregal
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Originally Posted by Q Shoe Guy
Nova declared bancruptcy (or some version of it) late last night. Only 5 billion yen in debt ! Still in Japanese for now, but is available on the major Japanese news sources for those that can access.
I read about it (link here). Apparently the board had some meeting yesterday and fired the President, Sahashi (who apparently wasn't there), and they're trying to restructure (会社更生法 - Corporate Restructuring Law), not really bankruptcy (or rather more like Chapter 11 in the US, rather than Chapter 7). This entire thing seems more like a drama. Oh well, best of luck to any NOVA employees.
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