Aoki to cut overseas operations loose to win financial support.TOKYO, May 16 Kyodo Midsize construction firm Takamatsu Corp. said Thursday it will support the rehabilitation rehabilitation: see physical therapy. of Aoki Corp. on condition the failed midsize builder cut ties with overseas operations. Takamatsu said the Osaka-based construction company and its subsidiary Komatsu Construction Co. have decided to back up Aoki's rehabilitation effort if heavily indebted in·debt·ed adj. Morally, socially, or legally obligated to another; beholden. [Middle English endetted, from Old French endette, past participle of endetter, to oblige operations, especially overseas businesses, are disposed of. Financial support by the two sponsors will include their acceptance of new shares to be issued by Aoki, Takamatsu said. Though Takamatsu neglected to specify operations to be cut loose, Aoki's overseas operations include Westin hotels Westin Hotels & Resorts are an upscale hotel chain owned by Starwood Hotels & Resorts Worldwide. As of 2005 Westin operated over 120 hotels in 24 countries. History In 1930, hotel owners Severt W. and real estate development. Last December, Aoki filed for court protection from creditors under the Civil Corporate Revival Law, with consolidated liabilities of 522 billion yen. |
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