Apparently suing Samsung (again) wasn't the only pressing business for Kodak today, as it just announced it has -- as expected -- filed for Chapter 11 business reorganization in New York. You can read the details in the press release after the break or at the Kodak Transforms website, where Chairman and CEO Antonio Perez is quoted saying he hopes Kodak will "emerge a lean, world-class, digital imaging and materials science company". The company has obtained $950 million debtor-in-possession financing, which it claims will provide the liquidity needed to continue operations during the restructuring. As far as its recent parade of lawsuits against Samsung, Apple and HTC, Perez comments on "monetizing non-core IP assets" so we'd assume its lawyers will stay busy going forward.Continue reading Kodak files Chapter 11 bankruptcy, expects to complete restructuring by 2013
Kodak files Chapter 11 bankruptcy, expects to complete restructuring by 2013 originally appeared on Engadget on Thu, 19 Jan 2012 00:45:00 EDT. Please see our terms for use of feeds.
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Kodak Transforms | Email this | CommentsSource: http://www.engadget.com/2012/01/19/kodak-chapter-11-bankruptcy/
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