Accepting the visual effects Oscar for “Dune : Part Two,” production VFX supervisor Paul Lambert acknowledged the contributions of the film’s VFX vendors, including Dneg and Wylie Co. as well as the “incredible Mpc.”

Mpc – whose work has included “Mufasa” The Lion King,” “The Lion King,” and “The Jungle Book” – is the VFX company that closed on Monday when its parent company Technicolor ceased operations. In a memo to employees, Technicolor Group CEO Caroline Parot wrote, “due to inability to find new investors for the full Group, despite extensive efforts, [Paris-headquartered] Technicolor Group has filed for Court ‘recovery procedure’ before the French Court of Justice.”

The news was met with shock and sadness in the visual effects community. Mpc operated in countries including the U.S., UK, Canada and India and employed thousands of artists. It was founded as The Moving Picture Company in the Soho section of London in...