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Kodak Due Back In Bankruptcy Court

 
Kodak Due Back In Bankruptcy Court
Posted Tuesday, June 25th 2013 @ 6am

Rochester N.Y.-Kodak will be asking a judge for approval of its reorganization disclosure statement. explaining how Kodak plans to pay its unsecured creditors.

The plan calls for a $406 million rights offering to pay off bondholders with up to 34 milion shares of common stock. Kodak last week announced it had secured up to $895 million to fund its operations after it emerges from bankruptcy protection.

And the judge last week approved an agreement putting Kodak’s Personalized Imaging (PI) and Document Imaging (DI) businesses under the ownership of the UK Kodak Pension Plan.

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