Kodak Reveals Plans For Life After Ch. 11

Law360, New York (May 1, 2013, 4:43 PM EDT) -- Eastman Kodak Co. filed its Chapter 11 plan Tuesday and said it expects to emerge from bankruptcy some time in the third quarter, casting off much of the consumer photography business that made it an icon and focusing on the commercial imaging industry.

The announcement came a day after Kodak said it reached a sweeping deal with its largest creditor, the U.K. Kodak Pension Plan, to spin off its personal and document-imaging business for $650 million, settling a $2.8 billion claim.

With the plan now filed...
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