Thomson undergoes second credit event

The International Swaps and Derivatives Association's Europe, Middle East and Africa credit derivatives determinations committee has decided by vote that a bankruptcy credit event has occurred on Paris-based media company Thomson, just over a month after auctions were held to settle an earlier restructuring credit event on the firm.

Thomson said it had requested and obtained the opening of a 'sauveguarde' proceeding in a French court on November 30, which is similar to Chapter 11 bankruptcy

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