Kodak Announces Comprehensive Settlement With U.K. Pension Plan, Moving Kodak Toward Exit From Chapter 11

Please note this post was not created by Jay Clapp Photography but by Thomas Ingersoll

“Eastman Kodak Company today announced a comprehensive settlement agreement with the U.K. Kodak Pension Plan (KPP), its largest creditor, with respect to its Chapter 11 Plan of Reorganization. Under the agreement, which will be filed with the U.S. Bankruptcy Court, Kodak’s Personalized Imaging and Document Imaging businesses will be spun off under new ownership to KPP. The settlement agreement provides, among other things, for the spin-off of Kodak’s Personalized Imaging and Document Imaging businesses to KPP for cash and non-cash consideration of $650 million. [more]

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