Kodak Extends New Enviro Cleanup Proposal To NY

Law360, New York (August 7, 2013, 5:29 PM EDT) -- Eastman Kodak Co. on Tuesday agreed to address the demands of the New York Department of Environmental Conservation in an amended settlement agreement proposed in bankruptcy court, shouldering liability for the costs of environmental damage related to an $8.5 million industrial complex it is selling.

The new settlement proposal creates an expense-sharing mechanism between Kodak and the state if the industrial complex costs more than $49 million in environmental cleanup. The language of the latest proposal leaves the door open for Kodak to cover environmental liabilities, a major point...
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