Kodak Equity Committee Still Unnecessary, US Trustee Argues

Law360, Chicago (July 30, 2013, 1:06 PM EDT) -- The U.S. trustee on Monday urged a New York bankruptcy judge not to appoint an official equity committee for Eastman Kodak Co., saying the fallen photography giant is so deeply insolvent that its shareholders have zero chance of recovery in the case.

Ashan Zia — a pro se shareholder who renewed the bid for an equity committee this month after several prior attempts failed — hasn’t shown a “substantial likelihood” that there will be anything left of Kodak to give to shareholders, who generally are the...
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