Kodak to emerge from Chapter 11 bankruptcy
Posted on Thursday, September 12th, 2013 at 4:36 pm
Multinational imaging and photography pioneer Eastman Kodak was approved by the U.S. Bankruptcy Court to emerge from Chapter 11 bankruptcy last month, a report from USA Today stated on Tuesday, September 3.
As Kodak exits from bankruptcy, its board will be changed and businesses in document and personalized imaging will be owned by a pension fund that will cover the workers of Kodak in the United Kingdom. The U.S. Bankruptcy Court will no longer oversee Kodak nor will the U.S. Trustee scrutinize Kodak.
According to Christopher Veronda, Kodak will have its new stocks listed with a new trading symbol.
Art Roberts of EKRA Ltd. expressed hope that Kodak will coordinate with retirees so that they are not neglected as the company refocuses on improving its business.
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