Taiwan High Speed Rail Corporation could face bankruptcy

Taiwan High Speed Rail Corporation could go bankrupt at end of April, according to the new Transportation and Communications minister Chen Jian-yu. The company could face bankruptcy because it doesn’t have the cash needed to meet potential preferred share redemption obligations. Chen said that he didn’t expect to have another financial restructuring plan and that the “government’s takeover of the system is the only way” to keep it running. He said the ministry will ensure the operation of the system will not be interrupted, adding that the government “will prepare for the worst, but make the best preparations.”