Tuesday, April 30, 2013
Eastman Kodak may be nearing Exit from Bankruptcy
Eastman Kodak Co, the photography giant, looks like it may
be resolving its bankruptcy
with an agreement yesterday to sell its remaining business to its British
pension fund. This sale would amount to about $650 million for Kodak.
The agreement is still awaiting approval in bankruptcy
court. A Reuters article indicates this could be a major step for Kodak to exit
from bankruptcy. As part of its bankruptcy, the company's lenders required
Kodak to sell its consumer and document imaging businesses, which is what the
$650 million deal is.
Big companies and corporations seem to be in the news for
bankruptcy a lot lately. As an individual, couple or family facing
insurmountable debt, the idea of bankruptcy can be overwhelming and a little
intimidating.
Filing for bankruptcy is a major decision requiring a lot of
thought and planning. In most cases, bankruptcy is a last resort after all your
other options have been exhausted. By meeting with an experienced bankruptcy
lawyer, you can discuss your options and explore whether bankruptcy is the right
option for you at this point.
To find out whether bankruptcy may be right for you, please contact an
experienced lawyer in your area.
posted by Tess @ 10:38 AM
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