Kodak Retiree Issue In Court
By: Caroline Tucker
Updated: March 20, 2012
Kodak's bankruptcy judge says he is going to give Kodak and the attorneys for Kodak's retirees time to possibly form a committee for those former workers.
Both sides were in U.S. Bankruptcy Court in Manhattan Tuesday.
The issue on the table: dropping supplemental health care coverage for about 16,000 Kodak retirees.
Kodak says it would save the company nearly $14 million in 2012 and another $20.5 million every year after.
In the courtroom, Kodak's attorney's said it was the "appropriate first step" and he said that retirees have been given plenty of notice.
Kodak's lawyers say they need the reductions, which are already a part of the financing agreement between Citigroup.
Attorney's for a group of retirees and the Eastman Kodak Retiree Association, which represents in excess of 4,500 retirees fought to have a committee created on behalf of retirees before any decisions are made about cutting benefits.
In the end, Judge Alan Gropper decided that between now and April 18, he wold like all parties to try to work out an agreement where that might happen.
Caroline Tucker was in court and will have the latest on News 8 tonight.
