Kodak Noteholders Battle Over Ch. 11 Cash

Law360, New York (January 19, 2012, 10:59 AM EST) -- One-time photography giant Eastman Kodak Co. faced pushback from some of its noteholders Thursday, the same day the company filed for Chapter 11 bankruptcy protection, over its request to immediately use $700 million to fund continuing operations and pay debt costs for the next month.

At a first-day hearing that ran late into the evening, debtor-in-possession lender Citigroup Inc. and Kodak agreed to trim the amount of post-petition financing and let the company use up to $650 million, much of which will cover $277 million in...
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