Technicolor: Noteholders' appeal of safeguard plan rejected by court

By Angela McDaniels

Tacoma, Wash., Nov. 18 - Technicolor said the Versailles Court of Appeal rejected the appeal of the holders of its deeply subordinated notes (titres super subordonnes) and confirmed the validity of its safeguard restructuring plan on Nov. 18.

The safeguard plan was approved by the Commercial Court of Nanterre in February 2010 and implemented on May 26.

Technicolor, formerly Thomson SA, is based in Boulogne-Billancourt, France, and provides video technologies, systems, finished products and services to the media and entertainment industry. It announced the safeguard proceeding on Nov. 30, 2009.

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