Thursday, January 24, 2013

Kodak Could Exit Bankruptcy by Mid-2013

According to Eastman Kodak Company today, in a significant step toward its emergence from Chapter 11, the company received approval from U.S. Bankruptcy Court Judge Allan Gropper of the Southern District of New York for the company’s previously announced commitment from the Steering Committee of the Second Lien Noteholders Committee for interim and exit financing. This financing, which authorizes Kodak to borrow up to $844 million, strengthens Kodak’s position to successfully execute its remaining reorganization objectives, finalize its Plan of Reorganization, and emerge from Chapter 11 in mid-2013.

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