French Film Co. Technicolor Seeks To Cut Debt In Ch. 15 Case
Law360 (June 23, 2020, 10:22 PM EDT) -- French video production and telecommunications company Technicolor SA filed a Chapter 15 petition late Monday in Texas bankruptcy court seeking to complete a financial restructuring that will cut down its €1.4 billion ($1.58 billion) of debt through an equity swap.
The company, which draws its name from the color film processing technology used in classic films like "The Wizard of Oz" and "Fantasia," fell into insolvency when COVID-19 scuttled its efforts to raise new capital.
The Chapter 15 filing seeks recognition of a French insolvency proceeding, called an SFA for the French phrase meaning accelerated financial safeguard, through which Technicolor is...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!