Kodak Meeting With Creditors
By: WROC-TV
Updated: October 15, 2012
Monday is a critical day in the bankruptcy process for Kodak.
The company will be talk with key creditors. Monday is the deadline for Citigroup to withdraw or continue its $950 million line of credit to the former photo giant. Last week, Kodak announced it will end health care and survivor benefits for retirees by the end of the year. That move will save the company an estimated $1.2 billion. On Wednesday, Kodak will ask a bankruptcy court judge to extend the window for submitting its plan to emerge from bankruptcy until February.
The company will be talk with key creditors. Monday is the deadline for Citigroup to withdraw or continue its $950 million line of credit to the former photo giant. Last week, Kodak announced it will end health care and survivor benefits for retirees by the end of the year. That move will save the company an estimated $1.2 billion. On Wednesday, Kodak will ask a bankruptcy court judge to extend the window for submitting its plan to emerge from bankruptcy until February.
