Thomson SA Seeks Ch. 15 For US Assets

Law360, New York (December 18, 2009, 5:36 PM EST) -- French entertainment and media services provider Thomson SA has filed for Chapter 15 bankruptcy protection in the United States, seeking to protect its American assets as it restructures its $3.77 billion debt in France.

Thomson filed its Chapter 15 petition for recognition of a foreign proceeding on Wednesday in the U.S. Bankruptcy Court for the Southern District of New York.

The company commenced a sauvegarde under French insolvency law on Nov. 30. Pending French court approval of its debt restructuring plan, Thomson said, it requires Chapter...
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