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Technicolor completes final steps of financial restructuring
By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Technicolor SA said it completed the final steps of its financial restructuring, according to a news release.
The steps were provided for in the accelerated financial safeguard plan of the company approved by the Paris Commercial Court on July 28.
On Sept. 11, the U.S. Bankruptcy Court for the Southern District of Texas ordered the closing of the company’s Chapter 15 case, according to the release.
The group said it has reduced its debt by €600 million.
Technicolor is a France-based technology company focused on the media and entertainment sector. The company filed bankruptcy on June 22 under Chapter 15 case number 20-33113.
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