Posts Tagged ‘Chapter 11’

Kodak Files Chapter 11

In an expected move, Kodak filed for chapter 11 bankruptcy today. According to an announcement at the KodakTtransforms website, the iconic American photo company anticipates that reorganization as a result of chapter 11 will “enable Kodak 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.” In other words, this is a far less grim turn of events that the full extinction of the brand many had predicted. The press release says that “the company has sufficient liquidity to operate its business during chapter 11″ and CEO Antonio Perez relates that “Chapter 11 gives us the best opportunities to maximize the value…of our technology portfolio: our digital capture patents…and our breakthrough printing and deposition technologies.”

(Kodak, via Engadget)

 

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