Kodak Gets OK For $650M Imaging Spinoff To UK Retirees

Law360, New York (June 20, 2013, 5:56 PM EDT) -- Eastman Kodak Co. on Thursday received a New York bankruptcy judge’s approval for a $650 million spinoff of its document imaging business to British retirees that will resolve their $2.8 billion claim and move the fallen photography icon closer to a Chapter 11 exit.

U.S. Bankruptcy Judge Allan L. Gropper signed off on the deal despite protests from a slew of technology giants that raised concerns over the status of their intellectual property rights.

“This is a major breakthrough in our case,” Kodak attorney Andrew G. Dietderich...
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