Kodak seeks court approval for reorganization plan

NEW YORK (AP) — Kodak is in bankruptcy court seeking approval for its plan to emerge from Chapter 11 protection.

A confirmation hearing is under way in New York before a federal bankruptcy judge, days after Eastman Kodak Co.’s creditors voted in support of its plan to reorganize its finances and operations.

The photography pioneer filed for bankruptcy protection in 2012 to cope with growing debt amid the shift from film to digital photography. The Rochester, N.Y., company has since sold off some units to concentrate on commercial and packaging printing.

Kodak has said it expects to emerge from Chapter 11 by the end of September.

blog comments powered by Disqus