real-time news and commentary for investors
Wednesday, Oct 10
2012, 6:44 PM
Eastman Kodak (EKDKQ.PK) has reached a deal with a retirees committee to resolve the bankrupt...
Eastman Kodak (EKDKQ.PK) has reached a deal with a retirees committee to resolve the bankrupt company's retiree health care and survivor benefits liabilities, which surpass $1.2B and cost Kodak $10M/month. Kodak will provide the committee with a $7.5M cash payment, a $635M unsecured claim, and a $15M administrative claim to make payments to retirees. The deal has the support of Kodak's creditors committee.