Kodak Seeks Court Approval For Reorganization Plan
NEW YORK (AP) — Kodak is due in bankruptcy court as it seeks approval for its plan to emerge from Chapter 11 protection.
A confirmation hearing in New York before a federal bankruptcy judge is scheduled Tuesday morning, days after Eastman Kodak Co.’s creditors voted in support of its plan to reorganize its finances and operations.
The photography pioneer, which is based in Rochester, N.Y., filed for bankruptcy protection in 2012 to cope with growing debt amid the shift from film to digital photography. The company has since sold off some units to concentrate on commercial and packaging printing.
The company has said it expects to emerge from Chapter 11 by the end of September.
Copyright 2013 The Associated Press.