French media technology company “Thomson” has just filed for “Safeguard”, which is the French equivalent of Chapter 11, to provide time to vote on and implement a debt restructing plan.

Chief executive Frederic Rose said: “After 10 months of constructive discussions with a majority of our creditors, I am satisfied that we have now a clear timetable for closing our debt restructuring. [Safeguard] allows us to provide clarity and certainty to our employees, customers, suppliers and shareholders.”

Apparently they have been in discussions throughout most of 2009 with their creditors, and have a plan that will be voted on on December 21st.  Why might you care?  Thomson owns Technicolor, the parent company of MPC.

via Thomson gains protection from creditors | News | Broadcast.