Kodak Creditors Support Plan of Reorganization
Kodak Creditors Support Plan of Reorganization
Voting Results Demonstrate Strong and Substantial Support for Company's Plan of Reorganization, Paving Way for Confirmation Hearing
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Kodak's creditors have voted in favor of its Plan of Reorganization, and with this positive outcome, the company is well positioned to seek confirmation of its Plan of Reorganization at the confirmation hearing scheduled for August 20 before the U.S. Bankruptcy Court for the Southern District of New York.
In its filings with the Bankruptcy Court, Kodak reported that all classes of the company's eligible creditors voted strongly in favor of the company's Plan.
"Our creditors have clearly told us we have the right strategy for the future of Kodak. This significant endorsement of our Plan enables Kodak to move toward emergence with the support of our creditors," said Antonio M. Perez, Chairman and Chief Executive Officer. "We are on task and on schedule. We look forward to our confirmation hearing next week and then to emerging from Chapter 11 as a technology company focused on imaging for business."
The confirmation hearing on Kodak's Plan of Reorganization is currently scheduled for 11:00 a.m. ET on August 20, 2013.
About Kodak
Kodak is transforming into a B2B company focused on its Commercial Imaging business. Kodak will be centered on commercial, packaging and functional printing solutions and enterprise services, markets in which it offers customers advanced technologies that give them a competitive edge. The company also offers leading products and services in Entertainment Imaging and Commercial Films. Its Personalized Imaging and Document Imaging businesses are being spun off to KPP. For additional information on Kodak, visit kodak.com.
Kodak
Christopher Veronda, +1-585-724-2622
christopher.veronda@kodak.com
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS:
The article Kodak Creditors Support Plan of Reorganization originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
