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Kodak emerges from Chapter 11

  • Two weeks after a bankruptcy judge signed off on Eastman Kodak's (EKDKQ.PK -45.6%) restructuring plan, the company has officially emerged from Chap. 11. (PR) (8-K)
  • The emergence follows the sale of Kodak's personalized/document imaging ops to its pension plan, the completion of a rights offering, and the sale of $406M in new equity to unsecured creditors, among other moves.
  • All previously issued and outstanding Kodak shares have been cancelled, along with all other prior equity interests. Initial distributions related to "general unsecured claims" are due by the end of September.
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