Altice France Files for Chapter 15 Bankruptcy in New York

Altice France filed for Chapter 15 bankruptcy protection in the Southern District of New York a few weeks after the company entered accelerated safeguard proceedings in France to help it address its debt burden.

The business, owned by Patrick Drahi, filed the application on June 17 to seek recognition of the restructuring procedure supervised by a French court and to stop debtholders unhappy with that process undermining the restructuring using US law.