FONT-SIZE Plus   Neg

Eastman Kodak Expects To Emerge From Chapter 11 Restructuring In Q3 -Quick Facts

Film stock maker Eastman Kodak Co. (EKDKQ.PK) announced that it has filed its Plan of Reorganization and Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. The company expects to emerge from Chapter 11 restructuring in the third quarter.

The Plan of Reorganization and Disclosure Statement contain a detailed description of Kodak's post emergence business plan which maintains and extends Kodak's leadership position in the Commercial Imaging Industry.

The company expects the court to schedule a hearing in mid-June to determine the adequacy of the disclosures contained in the documents to provide creditors the ability to evaluate the company's Plan of Reorganization.

In the interim, Kodak said that it will work with its creditors' committees to obtain their support of the plan and may, from time to time, file amendments and supplements to the documents.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Microsoft's (MSFT) office assistant Cortana for iOS beta has arrived, but only 2000 people will be able to test the virtual assistant. Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016.
comments powered by Disqus
Follow RTT