Kodak Rails Against Investors' Call For Equity Committee

Law360, New York (April 11, 2012, 5:48 PM EDT) -- Eastman Kodak Co. on Tuesday objected to shareholders' request for an official equity committee in the company's Chapter 11 reorganization, saying the move would be extreme and expensive because shareholders can't prove they'll have anything to recover.

Kodak argues in its objection that, at three months into the case, it's too soon for shareholders to demonstrate any likelihood that they will recover funds — a pillar in justifying the formation of such a committee to act in their interest.

Kodak's $2.5 billion worth of long-term liabilities,...
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