Kodak Granted Extension on Bankruptcy Emergence Plan
By: WROC-TV
Updated: November 14, 2012
A bankruptcy judge has approved an extension for Kodak's submission of a bankruptcy emergence plan.
Last month, the company asked for an extension to submit its plan to emerge from bankruptcy. The company now has until February. At the same time, the judge will consider a motion from second-lien parties to end Kodak's exclusivity. This would eliminate Kodak's control over the reorganization process. Earlier this week, Kodak announced a plan to emerge from bankruptcy with financing if it can sell its patents for $500 million.
Last month, the company asked for an extension to submit its plan to emerge from bankruptcy. The company now has until February. At the same time, the judge will consider a motion from second-lien parties to end Kodak's exclusivity. This would eliminate Kodak's control over the reorganization process. Earlier this week, Kodak announced a plan to emerge from bankruptcy with financing if it can sell its patents for $500 million.
