FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Kodak Seeks More Time to File Bankruptcy Plan

January 29, 2013, 07:43 AM
Filed Under: Bankruptcy
Related: Kodak Bankruptcy

Eastman Kodak is looking for yet more time to put together its plan for getting out of bankruptcy. In a filing Monday with the U.S. Securities and Exchange Commission, Kodak said it was in discussions with some of the lenders keeping it afloat during its Chapter 11, seeking their approval to move a key deadline in Kodak’s bankruptcy. Currently, the company is required to file a Chapter 11 plan by Feb. 15 with the U.S. Bankruptcy Court. According to the SEC filing, Kodak is looking to move that deadline to April 30.

Kodak, when it filed for Chapter 11 bankruptcy protection one year ago, initially had until May 18, 2012, to file a Chapter 11 reorganization plan. The company has received a number of extensions on that deadline, citing the size and complexity of the case.

In the same SEC filing, Kodak said it expects to wrap up its digital imaging patent sale on Feb. 1. The company is selling roughly 1,100 patents as part of its bankruptcy, with the money — in excess of $525 million —to be used to pay off some of that bankruptcy borrowing.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.