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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.