That you had the agreement of your creditors

Thomson, the French ex-géant of consumer electronics, tries all for all. Leaded by the weight of debt that it is unable to restructure, turbulent history group yesterday announced the opening of a backup procedure to the commercial court of Nanterre. This umpteenth procedure could enable him to conclude the restructuring of its balance sheet and thus alleviate the weight of its debt, to finally focus on the renewal of its activity.

The rating of the title, which had interrupted, yesterday, waiting for the publication by the Group of a release, resumed today. In July, Thomson was able to sign an agreement with its major creditors to reduce its debt by nearly half, the passing of EUR 2.8 billion to 1.5 billion. However, the Group had failed to identify all his creditors and to fully approve this plan.

The backup plan based on the agreement reached in July will be presented Saturday before being subjected to all the creditors vote on 21 and 22 December. Two deux pour par à des deux tiers pour par des deux devra être une des deux tiers être for pour par à des deux tiers pour par des deux devra être une des deux tiers être by par à des deux tiers pour par des deux devra être une des deux tiers être third deux parties pour pour par des deux devra être une des deux tiers être par par des deux devra être une des deux tiers être des deux devra être une des deux tiers être des deux will être une des deux tiers être be une des deux tiers être a des deux tiers être des deux third be approved une majorité une majority the vote which will be held on January 27, 2010. It will then be at the commercial court to the end of the backup plan that will intervene current February. Group, who believes have "adequate level of liquidity", believes that it is able to operate "under normal conditions."

Means the backup procedure that Thomson is about to disappear

On the contrary, Thomson is about to be reborn! Are admitted that saves companies whose activity is healthy. This is the case of Thomson. Turnover returned, and we suffer not a liquidity problem. Thomson SA, which is the only entity concerned by this procedure, has a year to reach an agreement with its bankers. With this backup procedure, we will write the final chapter of this restructuring. We have a precise timetable tightened. The saga of the restructuring will be completed in February 2010.

But it was believed that everything was resolved in July. That you had the agreement of your creditors.

We had obtained the agreement of a majority of our creditors, but not all. Over the past four months, we have tried to identify all the holders of our debt, which has proved extremely difficult. We have, for several months, favoured consensus.

Today, and how voluntary, we choose to backup, and justice will impose a date deadline for creditors to vote on our restructuring project. We can obtain a vote before Christmas and schedule an extraordinary general meeting for January 27. The commercial court of Nanterre could enable us, as early as February, out of the backup with a restructured debt procedure.

And if you don't get the agreement of your creditors

It is the virtue of the backup procedure. The commercial court might impose a rescheduling of our debt of EUR 2.8 billion to creditors. This refund may be spread over ten years in conditions totally bearable for Thomson, at the rate of average historic interest of our debt.

Thomson also had to move forward on the front of the assignments. Is this the case

Discussions are continuing, in line with what we have communicated end of October... We cannot say more now.