Thomson Files Safeguard (French Chapter 11)

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.

About the Author: Randall Hand

Randall Hand is a visualization scientist working for a federal research lab, aiding researchers to discover the insights buried within their terabyte datasets generated on some of the most powerful supercomputers in the world. He also runs VizWorld.com .

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