Kodak Agrees To Raise $600M For Ch. 11 Exit

Law360, New York (March 1, 2013, 10:29 PM EST) -- Eastman Kodak Co. pushed closer toward its Chapter 11 exit Friday by agreeing to raise at least $600 million from potential asset sales as part of a newly amended interim financing agreement that requires bankruptcy court approval.

Kodak said it agreed to the reduced amount in a deal with the steering committee of the second lien noteholders and that it will try to obtain the funds by selling certain noncommercial imaging assets, including its document imaging and personalized imaging businesses, according to a statement by the...
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