Technicolor Canada Inc., NOI

Technicolor Canada Inc., a Quebec-based visual effects company that is part of the Paris-based Technicolor Group, filed an NOI on February 26 listing approximately $30 million in assets and $49 million in liabilities.

The company delivers premium visual effects services to the global entertainment, media, and advertising industries and is involved in the production of films and episodic content, advertising, animation, and games.

As part of the Technicolor Group, the company is a borrower on a $200 million credit facility provided by a group of lenders and administrated by GLAS SAS. Following a filing by its Paris-based parent on February 26, Technicolor filed an NOI.

In Canada, Technicolor operates in Montreal and Toronto and has two divisions: Moving Picture Company (MPC), responsible for major visual effects projects, and Mikros, focused on animation. Unfortunately, it appears that approximately 300 employees have been temporarily laid off as a result of the NOI filing, and that the majority of the layoffs affect MPC employees.

PwC is the proposal trustee.

Counsel is Lavery for the Canadian company and Paris-based BredinPrat for Technicolor Group.