Technicolor back in control, asks U.S. court to close Chapter 15 case

By Caroline Salls

Pittsburgh, Sept. 3 – Technicolor SA asked the U.S. Bankruptcy Court for the Southern District of Texas to close its Chapter 15 case, according to a motion filed Wednesday.

The company said its French safeguard plan has been approved, and the plan order has been recognized by the U.S. court.

In addition, Technicolor said it has “regained full operational control over its business without supervision of approval of the French court.”

As previously reported, the company also closed on the second, €180 million tranche of its new-money financing.

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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