Dr. Who's Reading Room, fa-cat: (Kodak Files Chapter 11

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(Kodak Files Chapter 11 - Forbesから)

Eastman Kodak announced early Thursday that it has filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy code. The filing was made in U.S. bankruptcy court for the Southern District of New York.
The company said the filing is intended to “bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines.”
Kodak said it has received a $950 million debtor-in possession credit facility with an 18-month maturity from Citigroup “to enhance liquidity and working capital.”
Kodak said it “believes that it has sufficient liquidity to operate its business during Chapter 11, and to continue the flow of goods and services to its customers in the ordinary course.”
The company said it expects to pay employee wages and benefits and continue customer programs.
Kodak said it believes the Chapter 11 filing give it the best chance to maximize the value of its digital patents and its printing and deposition technologies.
The company said it expects to complete its restructuring in 2013.
Kodak said on a new site about the Chapter 11 filing that it expects its stock to be delisted from the NYSE.

(Kodak Files Chapter 11 - Forbesから)

Eastman Kodak announced early Thursday that it has filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy code. The filing was made in U.S. bankruptcy court for the Southern District of New York.

The company said the filing is intended to “bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines.”

Kodak said it has received a $950 million debtor-in possession credit facility with an 18-month maturity from Citigroup “to enhance liquidity and working capital.”

Kodak said it “believes that it has sufficient liquidity to operate its business during Chapter 11, and to continue the flow of goods and services to its customers in the ordinary course.”

The company said it expects to pay employee wages and benefits and continue customer programs.

Kodak said it believes the Chapter 11 filing give it the best chance to maximize the value of its digital patents and its printing and deposition technologies.

The company said it expects to complete its restructuring in 2013.

Kodak said on a new site about the Chapter 11 filing that it expects its stock to be delisted from the NYSE.