Kodak Officers Win Access To $25M In Insurance Funds

Law360, New York (June 25, 2012, 2:32 PM EDT) -- A New York bankruptcy judge on Monday granted limited relief from an automatic stay to give Eastman Kodak Co.'s top executives access to $25 million in insurance proceeds from XL Specialty Insurance Co. in order to defend against putative class actions.

U.S. Bankruptcy Judge Allan L. Gropper granted the unopposed motion, which will allow CEO Antonio M. Perez, chief operating officer Philip J. Faraci, chief financial officer Antoinette P. McCorvey and other current and former officers and directors to access the insurance money in connection with...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.