Judge Approves Kodak To Get Loan
By: WROC-TV
Updated: December 14, 2012
Bankruptcy Judge Alan Gropper says it is a good sign many people want to lend money to Kodak.
He approved the company's motion to enter into a commitment letter that will allow the company to get an $830 million loan. It is not the actual loan. Kodak says this sets up the next step to get that financing and gives the company freedom to find better financing if it is available. Kodak's attorney says the money is needed to get out of bankruptcy and set up a money structure for the company through September 2018. The company is also working on some projections for its future business and is expected to file those by the end of the year.
No details about a patent buyer have been revealed as of yet.
He approved the company's motion to enter into a commitment letter that will allow the company to get an $830 million loan. It is not the actual loan. Kodak says this sets up the next step to get that financing and gives the company freedom to find better financing if it is available. Kodak's attorney says the money is needed to get out of bankruptcy and set up a money structure for the company through September 2018. The company is also working on some projections for its future business and is expected to file those by the end of the year.
No details about a patent buyer have been revealed as of yet.
