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.